In the Circular-Flow Diagram,which of the Following Items Flows from Households

question 199

Multiple Choice

In the circular-flow diagram,which of the following items flows from households to firms through the markets for the factors of production?

• A)goods and services
• B)land,labor,and capital
• C)dollars spent on goods and services
• D)wages,rent,and profit

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Definitions:

Psychological Needs

Fundamental human necessities related to mental well-being, such as feeling valued, belonging, autonomy, and competence.

Knights of Labor

The Knights of Labor was a significant labor organization in the United States in the late 19th century, advocating for broad social and economic reforms, including the eight-hour workday.

Self-Employed Farmers

Individuals who own or manage their agricultural operations, making decisions for the farm and bearing its financial risks.

Skilled Industrial Jobs

Positions that require specific technical skills and training, typically in a manufacturing or industrial setting.