In the Simple Circular-Flow Diagram,households

question 35

Multiple Choice

In the simple circular-flow diagram,households

• A)are the only decision makers.
• B)own the factors of production.
• C)are buyers of inputs.
• D)consume only some of the goods and services that firms produce.

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Definitions:

Collectivist Perspective

A viewpoint valuing the needs and goals of the group over the desires and priorities of the individual, commonly seen in many Asian, African, and Latin American cultures.

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A medical doctor specialized in the diagnosis, treatment, and prevention of mental illnesses and disorders, capable of prescribing medication.

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