18) According to the circular flow model
A: . in the market for goods and services, households are buyers and firms are sellers.
B: . the market for goods and services, households are sellers and firms are buyers.
C: . in the market for factors of production, households are buyers and firms are sellers.
D: . firms are the owners of the factors of production.
A: . in the market for goods and services, households are buyers and firms are sellers.
B: . the market for goods and services, households are sellers and firms are buyers.
C: . in the market for factors of production, households are buyers and firms are sellers.
D: . firms are the owners of the factors of production.
举一反三
- The circular-flow diagram illustrates that, in markets for the factors of production, ( ) A: households are sellers, and firms are buyers. B: households are buyers, and firms are sellers. C: households and firms are both buyers. D: households and firms are both sellers.
- In the simple circular-flow diagram, A: households own the factors of production. B: households buy all the goods and services that firms produce. C: land, labor, and capital flow from households to firms. D: All of the above are correct.
- In the circular flow model, for every flow of goods, services, and<br/>resources there is a counter-flow of’ ( ) A: more goods, services, and resources. B: people from firms to households. C: people from households to firms. D: money.
- A market is a place where buyers and sellers gather to__________ their goods and services.
- In the circular-flow diagram, A: firms own the factors of production. B: the factors of production are labor, land, and capital. C: the factors of production are also called “output.” D: firms produce output using goods and services.