1)Advancements in the World of Technology
In just a few short decades, technological advances have had a major impact on our everyday lives. From how we listen to music, to how we watch TV or talk on the phone, many developments have occurred that have made access to products faster and easier than ever before. With online streaming services like Apple Music and Spotify, consumers can have access to millions of songs on the same digital platform. This is a far cry from having to purchase individual records or cassette tapes like music lovers had to do a few decades ago.
A. radio
The radio became popular in the 1920’s due to Americans finding a new interest in music.
Answer:
Households and firms have four main interactions with each other, according to the circular flow of the economy.
Explanation:
Households sell or rent the factors of production to firms (labor and capital), and firms use these factors to produce goods and services which they in turn sell to households.
Firms pay households for these factors of production in the form of wages (to pay for labor), or rent and dividends (to pay for capital). Households in turn, spend money in the goods and services that the firms produce, which forms the consumer expenditure component of Gross Domestic Product.
