--%>

Household consumer in a circular flow

Can someone help me in finding out the right answer from the given options. In a simple circular flow model, economists classify the people who finally experience joy or suffer pain, consume goods, own resources, and who accept the burdens of inflation or pay taxes, as the members of: (i) Corporations. (ii) Government agencies. (iii) Households. (iv) Business organizations. (v) All of the above.

   Related Questions in Public Economics

  • Q : Determination of opportunity cost of

    The opportunity cost of any type of decision is measured through the: (w) market price of career and education opportunities. (x) value of the worst optional choice sacrificed. (y) market price of the resources used in production. (z) value of the best optional choice

  • Q : Example of Productive Efficiency in

    If six units of capital can be substituted for one unit of labor without changing total steel output, whereas 4 units of capital can be substituted for one unit of labor without changing the output of wheat, at that moment: (w) there is an optimal allocation of resour

  • Q : Wealth of nation according to Adam Smith

    Adam Smith asserted that a wealth of nation is not gold, although is as an alternative the: (w) wisdom of its government. (x) goods and resources its people control. (y) new physical territory this conquers. (z) military power this co

  • Q : Use of relative prices not inclde by

    Please help me to solve the problem of economics that is given below: The functions of prices do not contain the use of relative prices like: (w) rationing devices. (x) mediums of exchange. (y) inf

  • Q : Explain about the Economic Model

    Economic models are most generally based upon: (i) specification of all interdependencies among all relevant economic variables. (ii) “other things equal” assumptions. (iii) equations which specify how to maximize financial profits. (iv) a

  • Q : Occurrence problem of Economic

    Economic inefficiency is most obviously a problem while: (i) Elmer hates Alpo but eats this so he can afford a cheap daily bottle of Gertrude's Hi Test Wine. (ii) Emma forgot to turn off the water and this runs down the street in a storm sewer six blo

  • Q : Economic assumption of rationality in

    As per to the economic assumption of rationality: (w) entrepreneurs are usually more rational than employees. (x) consumers often perform in random or erratic ways. (y) people tend to behave in accord along with their goals. (z) people who are rationa

  • Q : Ownership of major non-labor resources

    I have a problem in economics on Ownership of major non-labor resources. Please help me in the following question. Government ownership of main non-labor resources is the characteristic of: (1) Capitalism. (2) Decentralization. (3) Anarchism. (4) Soci

  • Q : When is Scarcity a problem become

    Scarcity is a problem for: (w) poor countries merely. (x) individuals only when they are poor. (y) capitalists, but not socialists. (z) all people and countries, rich and poor alike. Can someone explain/help me wit

  • Q : Illustrate when firm shuts down

    When a firm shuts down within the short run,: w) its loss equals zero. x) its loss equals its fixed cost. y) is creates zero economic profit. z) its total revenue is not huge adequate to cover its fixed cost. How c