In the circular-flow diagram,firms produce
A) goods and services using factors of production.
B) output using inputs.
C) factors of production using goods and services.
D) Both (a) and (b) are correct.
Correct Answer:
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A)are the only
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Q65: Factors of production are
A)used to produce goods
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Q214: Another term for factors of production is
A)inputs.
B)output.
C)goods.
D)services.
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