In the Markets for the Factors of Production in the Circular-Flow

question 214

True/False

In the markets for the factors of production in the circular-flow diagram, households are buyers and firms are sellers.

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Definitions:

Clutch Assembly

A mechanical device that engages and disengages power transmission, especially from a drive shaft to a driven shaft, allowing for smooth shifts between gears in a vehicle.

Drive Side

The side of a vehicle where the driving controls are located, which varies from country to country; also refers to the side of equipment receiving power.

Clutch Pack Assembly

A component in automatic and some manual transmissions comprising multiple clutches to engage and disengage gears.

Intermediate Plate

A component in a multi-plate clutch assembly that separates the friction plates, often used in automotive transmissions.