True/False the circular flows model is a representation of expenditures and incomes that result from decision makers choices and the way those choices interact to determine how what, and for whom goods and services are produced? True False

Question

True/False the circular flows model is a representation of expenditures and incomes that result from decision makers choices and the way those choices interact to determine how what, and for whom goods and services are produced? True False

Answer 1

**True**The circular flow model is indeed a representation of the expenditures and incomes that result from decision-makers' choices (households, businesses, governments, etc.) and how these choices interact to determine **how**, **what**, and **for whom** goods and services are produced. It illustrates the flow of resources, goods, services, and money between different sectors of the economy, such as households and firms.

Question

True/False the circular flows model is a representation of expenditures and incomes that result from decision makers choices and the way those choices interact to determine how what, and for whom goods and services are produced? True False

Solution

Resposta