WebChapter 02 - The Market System and the Circular Flow 91. Refer to the above diagram. Flow (2) represents: A. wage, rent, interest, and profit income. B. land, labor, capital, and entrepreneurial ability. C. goods and services. D. consumer expenditures. AACSB: Analytical Skills Bloom's: Understanding Learning Objective: 2-5 Topic: Circular flow … WebOct 31, 2024 · Flow 1 represents: A. wage, rent, interest, and profit income. B. land, labor, capital, and entrepreneurial ability. C. goods and services. D. consumer expenditures. 4. …
Flashcards - Economics 101 petereater
WebSep 23, 2024 · Refer to the above diagram. flow (1) represents: Wage, rent, interest, and profit income. Refer to the above diagram. flow (2) represents Land, labor, capital, and entrepreneurial ability. In terms of the circular flow diagram, households make expenditures in the _____ market and receive income through the _____ market. ... WebRefer to the diagram. Flow 1 represents: A. wage, rent, interest, and profit income. B. land, labor, capital, and entrepreneurial ability. C. goods and services. D ... greater than 100
Macroeconomics chapter 2 part 2 Flashcards Quizlet
Web96. Refer to the above figure. If box A represents households, B the product market, and C businesses, and if flow (3) represents revenues, then flow (1) would represent: A. Costs B. Money income C. Consumption expenditures D. Resources 97. Refer to... WebJul 6, 2024 · One of the main basic models taught in economics is the circular-flow model, which describes the flow of money and products throughout the economy in a very simplified way. The model represents all of the actors in an economy as either households or firms (companies), and it divides markets into two categories: Remember, a market is … WebRepresents a set-up to another step in the process. Connector Symbol Indicates that the flow continues where a matching symbol (containing the same letter) has been placed. Or Symbol Indicates that the process flow … greater than 10%