Figure 2-15 -Refer to Figure 2-15. One Segment of the Circular Flow

question 130

Multiple Choice

Figure 2-15
-Refer to Figure 2-15. One segment of the circular flow diagram in the figure shows the flow of wages and salaries from market K to economic agents M. What is market K and who are economic agents M?

• A) K = factor markets; M = households
• B) K = product markets; M = households
• C) K = factor markets; M = firms
• D) K = product markets; M = firms

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Definitions:

Employee Development

Programs and opportunities provided by organizations to enhance the knowledge, skills, and abilities of their employees for career advancement.

Linking Pin

A concept in organizational design where individuals serve as connectors between two or more groups or levels in a hierarchy, facilitating coordination and communication.

Rensis Likert

A social psychologist who developed the Likert Scale for measuring attitudes and is known for his research on management styles.

Focal Point

The center of interest or activity; a point that attracts attention or serves as a reference for surrounding elements.