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.
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.
举一反三
- 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.
- In the simple circular-flow diagram, the participants in the economy are A: firms and government. B: households and firms. C: households and government. D: households, firms, and government.
- 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 a market economy A: households decide which firms to work for and what to buy with their incomes B: firms decide whom to hire and what to make. C: a central planner makes decisions about production and consumption. D: Both a and b are correct.
- Which of the following is a characteristic of perfect competition? A: . A single seller. B: . A small number of buyers. C: . Buyers and sellers are price setters. D: . Buyers and sellers are price takers.