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What diagram shows the movement of goods and services and money from firms to households and from households to firms?
Circular flow
What represents a real flow in the circular flow model?
In the circular flow model, real flows represent the movement of goods and services between households and firms. Households provide factors of production, such as labor, to firms, while firms produce goods and services that are consumed by households. This interaction illustrates the interdependence of economic agents in the economy, where production and consumption occur simultaneously. Real flows are complemented by monetary flows, which represent the payment for these goods and services.
What was the movement that increased the farm production?
Enclosure
Any movement along the production possibilities frontier involves the production of?
Any movement along the production possibilities frontier (PPF) involves a trade-off in the production of goods or services. Specifically, it indicates that to produce more of one good, resources must be reallocated from the production of another good, reflecting the opportunity cost. This movement highlights the efficient use of resources, as points on the PPF represent maximum production capabilities.
Advantages and disadvantages of flow production?
Quick!....since its a continuous movement of items through the production process.
What are examples of Individual economic agents?
Individual people, firms, businesses, and households are examples of individual economic agents. An economic agent is any entity that makes purchasing, selling, or production decisions that affect an economy, and an independent economic agent makes these decisions independently (as opposed to, for example, a government office or a social movement).
How is an immediate effect of an increase in unemployment illustrated on production possibility curve diagram?
a movement of the production point closer to the curve
What is the importance of the financial sector in the circular flow?
The financial sector plays a crucial role in the circular flow of the economy by facilitating the movement of money between households, businesses, and the government. It acts as an intermediary, channeling savings from households into investments for businesses, which drives production and growth. Additionally, the financial sector provides the necessary liquidity and credit that enable economic transactions, thereby enhancing overall economic efficiency and stability. This interconnectedness helps sustain economic activity and fosters long-term development.
What is the temperance movement?
a campaign to stop the drinking of alcohol
What type of energy conversion takes places in a household item?
If the household items work with electricity, they will convert electrical energy to whatever they are supposed to do: movement for some devices, sound or light for others.
What causes movement along a production possibilities curve?
Movement along a production possibilities curve would imply that society has chosen a different set/amount of input for the two products/services represented in the graph.
What are the the two functions of the muscular system?
Movement and heat production (Through shivering)
