Homework Answers
Option C
Explanation: The households sell factors of production in the resource market to the firms and earn income.
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In the circular flow model, households earn their incomes in the Select one: O a. capitalist...
3. The circular flow model The following diagram presents a circular flow model of a simple...
3. The circular flow model The following diagram presents a circular flow model of a simple economy. The outer set of arrows (shown in green) shows the flow of dollars, and the inner set of arrows (shown in red) shows the corresponding flow of inputs and outputs. Markets for Outputs Sales receipts Goods and services Expenditures Goods and services Households Businesses Labor, capital, etc. Incomes Labor, capital, etc. Markets for Inputs Wages, interest, etc. Based on this model, households earn...
question 1 and 5 8 je Circular Flow of Economic Activity Worksheet 1. Which of the...
question 1 and 5
8 je Circular Flow of Economic Activity Worksheet 1. Which of the following is NOT one of the three fundamental economic participants a. households b. businesses c. banks d. government 2. The simple circular flow model shows that: a. households are on the selling side of the resource market and the buying side of the product market. b. households are on the buying side of both product and resource markets c. businesses are on the buying...
According to the Circular Flow Model on page 40, Households spend money by consuming products in...
According to the Circular Flow Model on page 40, Households spend money by consuming products in the product market. This money is Blank 1 for businesses. Businesses use the revenue to cover their Blank 2 of production (such as land, labor, capital) in the resource market. That money flows as Blank 3 to households. The factors of production flow from Blank 4 to the Blank 5 market. These resources are used by businesses to create goods and services and sell...
5. The circular flow model Aa Aa The following diagram presents a circular flow model of...
5. The circular flow model Aa Aa The following diagram presents a circular flow model of a simple economy. The outer (green) set of arrows shows t flow of money, and the inner (red) set of arrows shows the corresponding flow of inputs and outputs Consumption Spending Product Markets Revenue (Households Buy, Firms Sell) Goods and Services Purchased Goods and Services Sold Households Firms Capital, Land, Labour and Entrepreneurship Inputs for Production Factor Markets (Households Sell, Firms Buy) Wages, Rent...
The circular-flow model The following diagram presents a circular-flow model of a simple economy. The outer...
The circular-flow model
The following diagram presents a circular-flow model of a simple
economy. The outer set of arrows (shown in green) shows the flow of
dollars, and the inner set of arrows (shown in red) shows the
corresponding flow of inputs and outputs.
Based on this model, households earn income when
________________ purchase ___________ in factor markets.
Suppose Latasha earns $650 per week working as a programmer for
PC Pros. She uses $9 to order a mojito cocktail at...
7. Which one of the following is an example of the circular flow model and shows...
7. Which one of the following is an example of the circular flow model and shows the interdependence of households and firms? a. The firms go to the resource market to supply resources that households demand and, in turn, provide households with the goods and services produced for the product markets. b. Households demand their resources from the firms in the factor markets and, in turn, supply in the product market the goods and services produced by firms. c. The...
Microeconomics is concerned with Select one a .the aggregate or total levels of income, employment, and...
Microeconomics is concerned with Select one a .the aggregate or total levels of income, employment, and output . bo .establishing an overall view of the operation of the economic system co positive economics, but not normative economics do .a detailed examination of specific economic units that make up the economic system In the circular flow diagram, households get their ability to pay for their consumption expenditures from the Select one .a. revenues they receive for their products O .b.costs they...
2. The circular-flow model The following diagram presents a circular-flow model of a simple economy. The...
2. The circular-flow model The following diagram presents a circular-flow model of a simple economy. The outer set of arrows (shown in green) shows the flow of do inner set of arrows (shown in red) shows the corresponding flow of inputs and outputs. Markets for Goods and Services Firms Households Markets for Factors of Production Based on this model, households earn income whenfirms purchase in factor markets Suppose Poornima earns $800 per week working as a corporate attorney for Rowan...
The circular flow model shows the O A. distribution of income to the different factors of...
The circular flow model shows the O A. distribution of income to the different factors of production O B. combinations of the factors of production needed to produce goods and services. O C. flow of expenditure and incomes that arise from the households', firms, and governments' decisions. OD. distribution of income and consumption goods across income levels. O E. flow of natural resources from firms to the private market to government and back to firms,
2. The circular-flow model The following diagram presents a circular-flow model of a simple economy. The...
2. The circular-flow model The following diagram presents a circular-flow model of a simple economy. The outer set of arrows (shown in green) shows the flow of dollars, and the inner set of arrows (shown in red) shows the corresponding flow of inputs and outputs. Markets for Goods and Services Firms Households Markets for Factors of Production Based on this model, firms earn revenue when purchase in product markets. ー Suppose Kyoko earns $650 per week working as jewelry appraiser...
3. The circular flow model The following diagram presents a circular flow model of a simple economy. The outer set of arrows (shown in green) shows the flow of dollars, and the inner set of arrows (shown in red) shows the corresponding flow of inputs and outputs. Markets for Outputs Sales receipts Goods and services Expenditures Goods and services Households Businesses Labor, capital, etc. Incomes Labor, capital, etc. Markets for Inputs Wages, interest, etc. Based on this model, households earn...
question 1 and 5
8 je Circular Flow of Economic Activity Worksheet 1. Which of the following is NOT one of the three fundamental economic participants a. households b. businesses c. banks d. government 2. The simple circular flow model shows that: a. households are on the selling side of the resource market and the buying side of the product market. b. households are on the buying side of both product and resource markets c. businesses are on the buying...
5. The circular flow model Aa Aa The following diagram presents a circular flow model of a simple economy. The outer (green) set of arrows shows t flow of money, and the inner (red) set of arrows shows the corresponding flow of inputs and outputs Consumption Spending Product Markets Revenue (Households Buy, Firms Sell) Goods and Services Purchased Goods and Services Sold Households Firms Capital, Land, Labour and Entrepreneurship Inputs for Production Factor Markets (Households Sell, Firms Buy) Wages, Rent...
The circular-flow model
The following diagram presents a circular-flow model of a simple
economy. The outer set of arrows (shown in green) shows the flow of
dollars, and the inner set of arrows (shown in red) shows the
corresponding flow of inputs and outputs.
Based on this model, households earn income when
________________ purchase ___________ in factor markets.
Suppose Latasha earns $650 per week working as a programmer for
PC Pros. She uses $9 to order a mojito cocktail at...
7. Which one of the following is an example of the circular flow model and shows the interdependence of households and firms? a. The firms go to the resource market to supply resources that households demand and, in turn, provide households with the goods and services produced for the product markets. b. Households demand their resources from the firms in the factor markets and, in turn, supply in the product market the goods and services produced by firms. c. The...
Microeconomics is concerned with Select one a .the aggregate or total levels of income, employment, and output . bo .establishing an overall view of the operation of the economic system co positive economics, but not normative economics do .a detailed examination of specific economic units that make up the economic system In the circular flow diagram, households get their ability to pay for their consumption expenditures from the Select one .a. revenues they receive for their products O .b.costs they...
2. The circular-flow model The following diagram presents a circular-flow model of a simple economy. The outer set of arrows (shown in green) shows the flow of do inner set of arrows (shown in red) shows the corresponding flow of inputs and outputs. Markets for Goods and Services Firms Households Markets for Factors of Production Based on this model, households earn income whenfirms purchase in factor markets Suppose Poornima earns $800 per week working as a corporate attorney for Rowan...
The circular flow model shows the O A. distribution of income to the different factors of production O B. combinations of the factors of production needed to produce goods and services. O C. flow of expenditure and incomes that arise from the households', firms, and governments' decisions. OD. distribution of income and consumption goods across income levels. O E. flow of natural resources from firms to the private market to government and back to firms,
2. The circular-flow model The following diagram presents a circular-flow model of a simple economy. The outer set of arrows (shown in green) shows the flow of dollars, and the inner set of arrows (shown in red) shows the corresponding flow of inputs and outputs. Markets for Goods and Services Firms Households Markets for Factors of Production Based on this model, firms earn revenue when purchase in product markets. ー Suppose Kyoko earns $650 per week working as jewelry appraiser...
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