In the Circular Flow Model,households

question 61

Multiple Choice

In the circular flow model,households

• A)sell goods and services in the input market.
• B)and firms spend earnings from resource sales on goods and services in the factor market.
• C)hire resources sold by firms in the factor market.
• D)spend earnings from resource sales on goods and services in the product market.

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Definitions:

Summary Report

A comprehensive report that condenses key findings, conclusions, or recommendations from a detailed study or analysis.

Future Group Actions

Pertains to planned activities or steps a group intends to take in the future.

Self-Help Group

A self-help group is a voluntary association of individuals who share a common affiliation or problem and come together to support each other.

Consultant

A professional who provides expert advice in a particular area.