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The circular-flow model illustrates how resources and goods move through the economy in a free-market system. It shows the continuous interactions between households and businesses, where households provide factors of production (labor, land, capital) to businesses in exchange for wages, rent, and profits. In return, businesses produce goods and services that households purchase, creating a cycle of economic activity. This model highlights the interdependence of different economic agents and the flow of money and resources, emphasizing the dynamic nature of the free-market economy.
What else can I help you with?
In a freemarket system producers are motivated to reduce costs and increase revenues because of which of the following?
Profit Motive
What best explains why the free market system follows a circular flow model?
The free choices made by consumers and producers influence each other. ~Apex
What group of players make all of the economic decisions in a freemarket system?
The US, Japan and Germany are all market economies. In a traditional economy. In market economies, economic decisions are made by individuals.
What best explains what market forces are?
The properties of a free-market system that determine what the outcomes will be. (apex)
Which of the following best explains what market forces are?
the properties of a free-market system that determine what the outcomes will be
What is freemarket system?
It means the the business is privately owned and operated. It is not owned or controlled by the goverment.
In a freemarket system producers are motivated to reduce costs and increase revenues because of which of the following?
Profit Motive
In a freemarket system consumers let producers know what they want to buy and how much theyre willing to pay through what?
Their purchases.
What system follows the digestive system?
The excretory system.
What explains the operation of a hydraulic lift system?
Pascals
What explains the factor responsible for setting prices in a free market system?
"Supply is relative to demand" explains the factors responsible for setting prices in a free market system.
What is a continuation of the electrical system of the heart that follows the outer walls of the ventricle?
The His-Purkinje system is the part of the heart's electrical system that follows the outer walls of the ventricle.
What best explains why the free market system follows a circular flow model?
The free choices made by consumers and producers influence each other. ~Apex
Which explains the trend in immigration after 1921?
The enactment of a quota system
Which explains why a sealed calorimeter is a closed system?
temperature is conseved
Which theory explains that the earth is the center of the solar system?
Geocentricism.
What follows the mouth in the digestive system?
the esophagus
