In the Circular Flow Diagram,the Value of All the Income

question 154

True/False

In the circular flow diagram,the value of all the income in the economy is greater than the value of goods and services produced in the economy.

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Definitions:

Catfishing

A type of Internet harassment where some individual scams others into a false romantic relationship.

E-commerce

The activity of buying or selling goods and services online, through websites and applications.

C2C

Consumer to Consumer, or C2C, is a business model that facilitates the transaction of products or services between consumers through a third-party platform or marketplace, typically online.

B2C

Refers to Business to Consumer, a business model in which businesses sell products or services directly to consumers.