According to a simple circular-flow diagram, how many markets do households and firms interact in? A. four types of markets B. one type of market C. two types of markets D. three types of markets
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According to a simple circular-flow diagram, how many markets do households and firms interact in?
- A. four types of markets
- B. one type of market
- C. two types of markets
- D. three types of markets
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- In which kind of market, the consumer gets benefitted and whyWhat is a market?a. Name five types of markets in which you participate.b. What markets trade economic resources?Give your opinion, which type of market is best to exist and why? In which kind of market, the consumer gets benefitted and why
- Economics is the study of all of the following except:a. how the prices of goods and services are determinedb. how people make decisions, given scarce resourcesc. how to eliminate scarcity with new ideas and inventionsd. how buyers and sellers interact in a marketPlease don't use any ai tool.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.Discuss what markets are?
- 1.1. Which one of the following statements is correct? A. Wants, needs and demand are essentially simply different terms that have the same meaning. B. Wants and needs are essentially the same, but differ from demand. C. Needs and demand amount to the same thing. D. Wants and demand are essentially the same - people only demand things that they want. E. Demand differs from wants and needs. 1.2. South Africa has a A. pure market economy. B. pure command economy. C. traditional economy. D. mixed economy. E. classical economy. 1.3. The economic problem arises from the coexistence of A. limited wants and unlimited resources. B. unlimited wants and limited money in circulation. C. limited wants and limited resources. D. unlimited wants and unlimited resources. E. unlimited wants and limited resources. The term ceteris paribus means A. that if event X precedes event Z, X has caused Z. 1.4. B. that economics deals with facts only, not with suppositions.what is the significance of economics. Explain in details.What is a ‘final good’? Select one: a. A good not used as an input in the production process b. A natural resource used to produce a good c. A good purchased as an input in the production process d. A good used in the production of another good
- 2. The Latin term, "Ceteris paribus," refers to: a. The outcome of an economic analysis. b. The assumption that all other things are held equal when conducting an economic analysis. c. The fact that nothing changes when a market is in equilibrium. d. The mechanisms by which a market returns to equilibrium.Which of the following best demonstrates the influence of economic factors on consumer decision-making? a. A consumer buys a Lexus after her neighbors and garden club pals each buy one. b. A married couple with three young children purchase a minivan. c. A blue collar worker holds off on buying a new truck, pending potential layoffs at work. d. A young professional buys a utility vehicle for off-road exploring.assume that you happen to see a ripe mango fallen from a tree lying along a public roadside. if you pick it up and consume, you can enjoy some satisfaction. how many factors of production are involved in this process of satisfying your want? explain you answer.