« previous next »

Author Question: In a simple circular flow diagram, who supplies factors of production in markets and who buys these ... (Read 88 times)

CBme

  • Hero Member
  • *****
  • Posts: 548
on: Jun 29, 2018
In a simple circular flow diagram, who supplies factors of production in markets and who buys these factors of production? Who supplies goods and services in markets and who buys these goods and services?
 
  What will be an ideal response?

Question 2

Refer to Figure 4-1. If the market price is 1.00, what is the maximum number of burritos that Arnold will buy?
 
  A) 1 B) 2 C) 3 D) 4


jackie

  • Sr. Member
  • ****
  • Posts: 324
Reply #1 on: Jun 29, 2018
Answer to Question 1

Households supply factors of production and buy goods and services in markets. Firms buy factors of production and supply goods and services in markets.

Answer to Question 2

D


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

Dogs have been used in studies to detect various cancers in human subjects. They have been trained to sniff breath samples from humans that were collected by having them breathe into special tubes. These people included 55 lung cancer patients, 31 breast cancer patients, and 83 cancer-free patients. The dogs detected 54 of the 55 lung cancer patients as having cancer, detected 28 of the 31 breast cancer patients, and gave only three false-positive results (detecting cancer in people who didn't have it).

Did you know?

A seasonal flu vaccine is the best way to reduce the chances you will get seasonal influenza and spread it to others.

Did you know?

In 1835 it was discovered that a disease of silkworms known as muscardine could be transferred from one silkworm to another, and was caused by a fungus.

Did you know?

Warfarin was developed as a consequence of the study of a strange bleeding disorder that suddenly occurred in cattle on the northern prairies of the United States in the early 1900s.

Did you know?

Amoebae are the simplest type of protozoans, and are characterized by a feeding and dividing trophozoite stage that moves by temporary extensions called pseudopodia or false feet.

Primary production is positively correlated with the evapotranspiration rate. Primary production is positively correlated with the evapotranspiration rate.
Reverse Osmosis Schematic Diagram Reverse Osmosis Schematic Diagram
Major Risk Factors for Hypertension Major Risk Factors for Hypertension
Mechanism of action of anti-parkinson drugs. (a) Levodopa therapy increases dopamine production; (b) ... Mechanism of action of anti-parkinson drugs. (a) Levodopa therapy increases dopamine production; (b) ...
Circular friction around the ankle with the fingertips. Applying pressure with the fingertips, move ... Circular friction around the ankle with the fingertips. Applying pressure with the fingertips, move ...
A satellite that is in a circular orbit 230 km above the surface of the planet Zeeman-474 has ... A satellite that is in a circular orbit 230 km above the surface of the planet Zeeman-474 has ...
Video: DNA Sequences - Dideoxy Sequencing

For a complete list of videos, visit our video library