In a Simple Circular-Flow Diagram,households Buy Goods and Services with the Income

question 21

Multiple Choice

In a simple circular-flow diagram,households buy goods and services with the income they get from

• A)wages.
• B)rents.
• C)profits.
• D)All of the above are correct.

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Definitions:

Organizational Performance

This measures how efficiently and effectively an organization achieves its goals and objectives.

Corporate Strategy

The overarching strategy of an organization, outlining its overall direction and objectives, and determining how to allocate its resources across the entire corporation.

Business Strategy

A plan of action designed to achieve a long-term or overall aim within a business.

Strategy Formulation

Strategy formulation is the process of creating strategies to achieve organizational goals, involving the analysis of the competitive environment and the organization's internal capabilities.