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Which of these is not a part of the circular flow model

Assignment Help Business Economics
Reference no: EM133517671

Questions

1. The graphical representation of demand and supply is made through the...

Demand and Supply Curve

Change in Quantity Demanded and Supplied

Demand and Supply Schedule

2. The amount of labor can be increased by training the workforce in new skills.

True

False

3. Which of these is not a part of the circular flow model?

Product Markets

Government Taxes

Factors of Production

Payments to Firms

4. Equilibrium Price in any market is the price at which...

Quantity Demanded < Quantity Supplied

Quantity Demanded = Quantity Supplied

Quantity Demanded > Quantity Supplied

5. Intellectual property represents...

Physical Capital

Economic Capital

Financial Capital

Human Capital

6. A person who seeks to earn profits is called a...

Human Capital

Labor

Entrepreneur

Employee

7. Any variable that can change the demand and supply with no change in price is called...

Shifter

Variant

Substitute

Influencer

8. Quantity Demanded and represents demand for a good.

True

False

Reference no: EM133517671

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