In the circular-flow diagram, firms buy _____ in the _____ market. Question 11 options: A) goods and services; product B) goods and services; factor C) resources; product D) resources; factor
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The circular flow diagram represents the flow of money from one sector to another. The sectors involved in the circular flow diagram are households, product markets, firms, and factor markets.
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- In the market for goods and services in the circular flow diagram, Select one: A. firms provide households with output B. households provifde firms with savings for investment C. firms provide households with profitThe diagram below represents a 3-consumer economy, revealing each individual's demand curve (D1, D2, and D3). Using the 3 individual demand curves, construct/draw the market demand curve. [Options for submission: 1) take a screenshot of the figure, copy/paste into Word, and use the drawing tool to draw the market demand curve or 2) recreate the diagram on your own paper (careful to correctly label all intercepts and curves) and draw the market demand with a different color pen(s)] --> upload your image into this question before submission Please show in the picture how to identify. Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.Question 26 Please refer to Maxine's & Daisy's PPFs Which good should Daisy specialize in? Group of answer choices the good for which she has a higher opportunity cost the good she can produce the most of the good for which she has a lower opportunity cost the good for which she has an absolute advantage.
- How do markets operate to bring product into existence? How does that relationship affect supply and demand for the various markets involved? In what ways has the change in supply and demand affected the market? What enabled the many participants in the production of this product to cooperate, and how has this affected the production of the product?5 In models for homogenous goods, it is assumed that the good in question obeys the law of one price. The above statement is AnswerExplain the gains from trade that arise for both buyers and sellers in the following transactions: a. Neighbors Jordan and Chelsea are both working parents. They are able to hire a single babysitter to care for both of their toddlers for 75% of what they would collectively have to pay two separate babysitters. b. Elijah decides that his family should eat more healthy meals, but they are short on time. He buys a subscription that sends healthy preplanned meals to his home three times a week. c. Callie accepts an extra shift at work and hires a cleaning service to clean her apartment.
- Below is the economic statement conditions. Identify the type of economic system explain. Enumerate one advantage and one disadvantage of statement/condition explain 1. Consumers have the greatest variety of goods possibleThe following questions highlight how changes in numbers can be measured in both absolute and relative, or percentage, terms. Two stores in a mall are having promotions. The first, Annie's Attic, is offering $15.00 off any purchase. The other, Betty's Breakables, is offering 40% off any purchase. Each store offers a music box at a (non-discounted) price of $90 and a faux Ming vase for $75.00, as summarized in the following table.Describe the two main classifications of “Markets” and what roles do prices play in exchange of the goods and services?
- Define scarcity, choice, and opportunity cost and explain how they are related and why they are so essential in the study of economics.A certain production possibilities frontier shows production possibilities for two goods: pants and shirts. Which of the following concepts can not be illustrated in this model? Question 39Select one: a. the opportunity cost of shirts in terms of pants b. the effect of economic growth on production possibilities involving pants and shirts c. the flow of dollars between (i) sellers of pants and shirts and (ii) buyers of pants and shirts d. the tradeoff between production of pants and production of shirts1. It is primarily the basis of economic activity a. economics b. scarcity c. social science d. abundance 2. What happen to the demand for tilapia if the price of bangus will go down? a. prices of tilapia remains b. price of bangus remains c. shift to the right d. shift to the left If cruz family lessens their demand expenditures for rice because they want pandesal for their breakfast, this is a. time efficient b. taste and preference c. decrease in income d. saving for cooking gas
