Refer to the above diagram, in which solid arrows reflect real flows; broken arrows are monetary flows. This article provides a basic overview these maps, a description of how they work, describes the three different types of flow maps and explains the characteristics of a good flow map. Which arrow represents the flow of goods and services? 14. Households. For a limited time, find answers and explanations to over 1.2 million textbook exercises for FREE! In this video, we explore how to model this in a straightforward way using the circular flow model. In the circular flow of goods and services what does the product market represent? In short, the two arrows on the top represent the goods and services market – the arrow above represents the flow of payments for the goods and services, the arrow below represents the flow of goods and services. 7 and 8. Chapter 2/Thinking Like an Economisty 45 67. 1. 14. B C. C D. D 35. The two arrows at the bottom of the diagram (C) similarly represent the factors of production market. Firms produce G&S, which are purchased by households. money flow . Wiki User Answered . Which arrow shows the flow of land, labor, and capital? goods and services flow . d Which arrow shows the flow of the factors of production? B Ac D. D 36. Refer to Figure 2-1. 3 and 4. If households are sellers in the markets represented by Box D. . buys a new pair of shoes at a shoe store. The following are proper explanations for why the … Tags: Question 8 . Businesses have incentives to earn profits and, therefore, to produce the goods and services that consumers want. arrows represent the flow of goods and services. c. the markets for goods and services and the financial markets. a. In fact, the household and business sectors do not spend their entire money income. Best answer. 60 seconds . a. factors of production. Refer to Figure 2 1 Which arrow represents the flow of goods and services a A b, 38 out of 41 people found this document helpful. Firm. a. factors of production. A b. The economy's income and expenditure The following diagram presents a circular-flow model of a simple economy. the markets for goods and services and the markets for factors of production. c. personal consumption expenditures. Why? D) the flow of income received by households and the flow of tax revenues paid by firms Answer: B Diff: 2 Page Ref: 52-53/52-53 A B. Which Arrow Represents The Flow Of Spending By Households? Which arrow represents the flow of spending by households? Resources are in the form of labor, natural resources, capital, and entrepreneurship, all of which are supplied by households. Tap card to see definition 👆. a. personal consumption expenditures. Flow (2) might represent: The green arrows represent the flow of payments, and the red arrows represent the flow of goods and services. Among economic models, the circular-flow diagram is unusual in that it, . Households are neither buyers nor sellers in the input market. 5 and 6. Which arrow represents the flow of goods and services? answer choices . 2011-08-26 12:59:42 2011-08-26 12:59:42 . The green arrows represent the flow of payments, and the red arrows represent the flow of goods and services. As households and firms pay the government net taxes, money and resources flow outside the model. Refer to the above diagram. and services? In the circular flow of the economy, money is used to purchase goods and services. The following diagram presents a circular flow model of a simple economy. Which Arrow Shows The Flow Of Land, Labor, And Capital? Flow maps are a type of map used in cartography to show the movement of objects between different areas on the Earth’s surface. Thicker and darker arrows indicate higher volume (each commodity is scaled relative to the highest volume between any two states, so arrow size isn't comparable across commodities). A. Refer To Figure 2-1. Refer to Figure 2-1. The Circular Flow of Income: The circular flow is a visual model portraying how dollars move through markets among firms and households. The arrow marked “D” represents the flow of. The flow of goods between states. 30 seconds . b Which arrow shows the flow of goods and services? Based on this simplified model, all these flows involved in it are depicted in the following figure. Which arrow represents the flow of spending by households? Which arrow shows the flow of land, labor, and capital? Box C must represent the markets for the factors of production. On Friday of that week she receives her first paycheck. b. consumer goods and services. Asked by Wiki User. The arrow marked “C” represents the flow of. The figure represents a circular-flow diagram. taxes . University of the Fraser Valley • E.Q. Product Market. The exchanges made in the economy imply a redistribution of rent according to the diagram, and the creation of value makes the economy grow . Juan buys a new pair of shoes at a shoe store. This preview shows page 19 - 22 out of 98 pages. if households are buyers in the markets represented by Box C this circular flow diagram, then a. Save. B c. C d. D ANS: B PTS: 1 DIF: 2 REF: 2-1 TOP: Circular-flow diagram MSC: Interpretive 66. Tags: Question 9 . 2 Marks c Which arrow shows the flow of spending by households? 2 Marks . A b. asked Jun 25, 2019 in Economics by Marcia. Which arrow shows the flow of income payments? Gross domestic product (GDP) measures which of the following from the circular-flow diagram? B c. C d. D ANS: B PTS: 1 DIF: 2 REF: 2-1 TOP: Circular-flow diagram MSC: Interpretive 66. Why? goods and services flow. To produce goods and services, businesses need to purchase resources from households. 1. taxes. Refer to Figure 2-1. answer explanation . Refer to Figure 2-1. The circular flow in a two-sector economy is depicted in Figure 1 where the flow of money as income payments from the business sector to the household sector is shown in the form of an arrow in the lower portion of the diagram. e Which arrow shows the flow of income payments? Which A. Select the appropriate labels to complete the circular-flow diagram according to the information given on the diagram. The delivery of finished products for sale in exchange for revenue is represented in which arrows? Refer to the diagram, in which solid arrows reflect real flows; broken arrows are monetary flows. The economy's income and expenditure The following diagram presents a circular-flow model of a simple economy. A b. Q. consumer goods and services. The circular flow analysis is the basis of national accounts and hence of macroeconomics. the flow of income earned from the sale of resources and the flow of expenditures on goods and services. alternatives . 2. Tags: Topics: Question 5 . . Refer To Figure 2-1. B. the purchase of s Send feedback; DMCA. a. personal consumption expenditures. Refer to Figure 2 1 Which arrow represents the flow of goods and services a A b, 48 out of 48 people found this document helpful. … The arrow marked "B" represents the flow of: Click card to see definition 👆. Best answer. taxes . Which arrow represents the flow of goods. 65. Receive Instant Help Click Here to Ask Your Question. Goods and services flow through the economy in one direction while money flows in the opposite direction. businesses purchase what they use to produce goods and services. As an organism is eaten, energy is transferred to the organism that ate it. Factors of production flow from households to firms in the markets for factors of production, therefore arrow C must represent this flow. Select the appropriate labels to complete the circular-flow diagram according to the information given on the diagram. 4. Which arrow represents the flow of goods and services? a. arrow A b. arrow B c. arrow C d. arrow D ANS: B PTS: 1 DIF: Average REF: 25 BLM: Higher Order NOT: Micro TB_2-53 54. Refer to Figure 2-1. Which arrow represents the flow of spending by households? goods and services flow. Economists use a circular flow model to highlight basic fetures of a market economy. Refer to the above diagram. 71. 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