Social Studies, 24.07.2019 19:30 Alijahvalles7443

Which of the following best explains why the free-market system follows a circular flow model? a. the free choices made by consumers and producers influence each other. b. goods and services are constantly recycled in a circular manner. c. the allocation of resources affects both production and distribution. d. profits flow in a circular way back and forth between consumers and producers.

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The correct answer would be option A. The free-market system follows a circular flow model due to the fact that the free choices made by consumers and producers influence each other.The free-market is defined as a type of economic system, which is based on supply and demand, and in which the government has little or no control at all. This system uses a circular flow model, which is a graphical representation of the flow between the goods and the money that participate in the economy.

Answer from: Talos02

A. the free choices made by consumers and producers influence each other

(supply and demand) customers want x, y, and z, so producers create x, y, and z, and so on.

Answer from: Quest

levels of production can be increased by technology while holding labor and capital constant, because increased technology makes the production process more efficient. subsequently, the lras curve is almost a vertical line, that can shift to the right, with an increase in technology.

the relationship between the lras curve and the ppc is that both can make the economy could grow. the ppc achieves that when it shifts outward because of more resources or technological advances while the lras curve shifts if more resources are developed or if there are technological advances.

the lras curve is a vertical line at an output level that represents the number of goods and services a nation can produce over a sustained period using all of its productive resources as efficiently as possible with all of the current technology available to it.

the production possibilities frontier (ppf) is a graphical device that is used for economic analysis of production decisions because the ppf measures the maximum possible combinations of two goods that an economy is capable of producing with its currently available resources and technology.

Answer from: Quest

i would say b. research typically uses a variety of sources

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Which of the following best explains why the free-market system follows a circular flow model? a....

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