6 In the simple circular flow of economic activity, goods and services flow via A. factor markets to goods markets. B. factor markets from households to firms. C. goods markets from firms to households. D. goods markets from households to firms.
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- In the simple circular-flow diagram, in which market are households sellers? the factors of production market the goods and services market both the factors of production market and the goods and services market neither the factors of production market nor the goods and services marketIn the circular-flow diagram, O firms are sellers in the resource market and the product market. O firms are buyers in the product market. O spending on goods and services flows from firms to households. O households are sellers in the resource market.Gross domestic product (GDP) figure gives an understanding of a marketť's Select one: a Economic environment Ob.Demographic environment c. Natural environment O0 d. Technological environment Next page
- Give typing answer with explanation and conclusion Which of the following illustrates goods markets? A. Maggie took an educational loan of $10,000. Safeway sells milk at $4.35 a gallon. B. Anna got a job with a public firm. Smith wants to take a vacation in December. C. Walmart sells potatoes at $2.14 a pound. Ann bought a new condo for $200,000. D. Banks have raised interest rates to 2.5 percent. Ryan enjoys playing chess.In Crabby land, there are only 3 goods: Burgers, Patties, and Pizza. The following table shows the prices and quantities produced of these goods in 1990, 2000, and 2010: Burgers Patties Pizza Price 2.00 7.00 0.70 1990 Quantity 500 300 300 Price 1.00 10.00 4.00 2000 Quantity 600 200 200 Price 1.10 10.50 0.75 2010 Quantity 690 110 420 a) A "market bundle" for a typical family is deemed to be 5 burgers, 3 patties, and 4 pizzas. Compute the consumer price index (CPI) for each of the three years, using 1990 as the base year. b) What was the rate of inflation from 1990 to 2000, using the CPI you calculated in (a)? c) Compute the CPI for each of the three years, using 2000 as the base year instead of 1990 but using the same "market bundle." d) What was the rate of inflation from 2000 to 2010, using the CPI you calculated in (c)? Is it the same as your answer to (b)? e) Now suppose that a new market bundle is defined; the "market bundle" is now 6 burgers, 2 patties, and 4 pizzas. Compute the…Are households demanders or suppliers in the goods market? Are firms demanders or suppliers in the goods market? What about the labor market and the financial market?
- Are households primarily buyers or sellers in the goods and services market? In the labor market?Which of the following is true in the markets for factors of production in the circular-flow diagram, a. households provide firms with labor, land, and capital. b. households provide firms with savings for investment. c. firms provide households with goods and services. d. firms provide households with revenue.is the only factor of production that needs to be produced. O Human resource ●Capital O Natural resources O Labor
- In the factors of production market Select one: a. households and firms are both buyers b. households and firms are both sellers c. households are sellers and firms are buyers. d. households are buyers and firms are sellers5 8 Market for Factors of Production 7 6 Bank of America pays rent for its office rentals. O Dale pays for his movie ticket. O Peter buys gourmet jam. O Turner Construction rents trucks for its business. 2 3 Market for Goods & Services Which of the descriptions below best matches the flow described by #5? Hint: To see the origin of the flow, pay attention to the subject of the sentence, are we talking about a firm or a household? To see the kind of flow, first, think whether it is a monetary flow or a real flow and, if it's a real flow, think whether we are talking about goods & services or about factors of production -- this will help you identify the market involved. Target earns big revenue on Black Friday. O Spencer receives wages for tutoring. O Laura offers her labor delivering sandwiches for Jimmy John's. O Safeway sells groceries. 4 3/1 1 SecondsThe MOST important role the government plays in the operation of a market economy is O producing goods for low income households O controlling the market prices of food items O setting up and enforcing private property rights O ensuring an equal distribution of income to all citizens