In the circular flow diagram, households sell _________ to business firms.
a. information
b. products
c. services
d. labor
d. labor
You might also like to view...
Explain the difference between consumption and capital goods
What will be an ideal response?
Suppose a duopoly had reached the monopoly outcome and then the first firm increased its production. If the second firm next increases its production, the second firm's profit ________ and the first firm's profit ________
A) increases; increases B) increases; decreases C) decreases; increases D) decreases; decreases E) increases; does not change
A change in the price of hamburgers will change the supply of hot dogs
a. True b. False Indicate whether the statement is true or false
Recall the Application about how cable TV providers respond to the threat of potential competitors to answer the following question(s).Recall the Application. Aside from fending off potential entrants into their markets, cable TV decided to lower their prices because:
A. they wanted to discourage price regulation by the government. B. they wanted more people to enjoy the benefits of cable TV. C. their marginal costs dropped a lot with the arrival of the internet. D. All of these are reasons mentioned in the Application.