--%>

Problem onto market circular flows

In output markets, the simple circular flow model, households replace their _________ for _________.
Can someone help me in determining the right answer from the given options. (1) Resources | income. (2) Labor | goods. (3) Income | goods. (4) Goods | profits. (5) Devotion | enlightenment.

Please someone suggest me the proper explanation for given problem regarding Economics generally?

   Related Questions in Microeconomics

  • Q : Outcome of a purely competitive market

    When cost conditions are otherwise identical, compared to the outcome of a purely competitive market, in that case a monopolist: (w) produces less and charges more. (x) maximizes total profits whenever possible. (y) confronts a demand curve where P =

  • Q : Constant cost industries In

    In constant-cost, the purely competitive industries: (w) total cost is constant at every output. (x) marginal cost is constant at each output. (y) number of firms is constant at every output. (z) long-run supply price is uninfluenced by output. <

  • Q : Natural barriers to entry A monopoly

    A monopoly may emerge naturally while: (w) increasing costs happen quickly relative to market demand. (x) at low levels of output, disutilities of scale are encountered. (y) economies of scale are substantial relative to market demand. (z) variable co

  • Q : Indeterminable market supply curve For

    For a monopoly firm a market supply curve is: (w) steeper than the market supply curve of a competitive industry. (x) indeterminable because profit-maximizing quantities with profit maximizing prices are determined concurrently, and depend upon costs

  • Q : Exclusivity ratio of ratio while price

    The percentage change within quantity supplied divided through the percentage change within price is an approx measure of a good's: (w) unitary margin. (x) price elasticity of supply. (y) exclusivity ratio. (z) price elasticity of demand.

    Q : Problem onto market circular flows In

    In output markets, the simple circular flow model, households replace their _________ for _________.Can someone help me in determining the right answer from the given options. (1) Resources | income. (2) Labor | goods. (3) Income | goods. (4) Go

  • Q : Probability of Law of Diminishing

    Can someone help me in finding out the right answer from the given options. Karina gets 27 utils from her first ice-cream cone in an hour, and 23 extra utils from the second that hour. Determine the number of utils is she likely to obtain from the third cone? (i) 15 u

  • Q : When is demand perfectly price inelastic

    Demand is perfectly price inelastic when the quantity demanded for Pixie’s cheesy fried grits is of: (w) zero. (x) P4. (y) P2. (z) More information is required.

    Q : Statement of Law of Demand The law of

    The law of demand defines that when a good’s price increases, its quantity demanded will drop: (1) No matter what occurs to other variables. (2) When all as well is supposed constant. (3) Since its demand curve shrinks. (4) If substitutes become

  • Q : Jollies gained-Production occurs I have

    I have a problem in economics on Jollies gained-Production occurs. Please help me in the following question. The jollies gained whenever production takes place do not comprise utilities of: (i) Form. (ii) Possession. (iii) Place. (iv) Substance. (v) T