In economics<span>, a </span>circular flow model<span> is a diagram that is used to represent the monetary transactions in an</span>economy<span>. ... The factor owners spend the income on goods which leads to </span>the circular flow<span> of payments .</span>Circular flow<span> of goods income. </span>The circular flow model shows<span> the </span>flow<span> of payments between households and firms</span>
The movement from point B to point A is due to the price that companies can charge for the product decreases. Therefore the 3rd option is correct.
<h3>What is supply?</h3>
Supply is the economic concept which refers to the availability of the products and commodities in the market in order to satisfy the needs of the consumers.
According to the Graph, The prices of the commodity is decreased from $20 to $5 and output is also decreased from 200 units to 100 units which implies the decrease in the prices of the product which further implies the decrease in the level of supply.
Therefore the 3rd option is correct.
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Answer:
<u>Quality of life is a hidden variable because it cannot be measured directly but must be inferred from measurable variables such as wealth, success, and environment.
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Explanation:
<u>Hidden variable:</u> The term "hidden variable" is described as the proposition that specific "statistical models" of any physical systems, for example, Quantum mechanics are being incomplete inherently, and along with this the apparent randomness of a particular system is being dependent not on "collapsing functions" but instead it is due to any unmeasurable or unseen or hidden variables.
These are worth careful scrutiny by the managers of all companies because when a company's costs for one or more of the cost benchmarks are deemed "out-of-line," managers need to initiate corrective actions in the next decision round. only have value to the managers of companies whose costs are below the industry averages.
<h3>What do you mean by industry?</h3>
An industry is a group of companies that are related based on their primary business activities.
In modern economies, there are dozens of industry classifications. Industry classifications are typically grouped into larger categories called sectors.
<h3>What are the 4 types of industry?</h3>
There are four types of industry, namely primary, secondary, tertiary and quaternary.
Primary industries involve the activities related to extraction and processing of natural resources, such as agriculture, mining, fishing, etc.
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Buyer persona is a fictional, generalized representation of the ideal customers of your business.
It is very important to have deep understanding of it buyers persona. This is a driving factor to create driving content and to develop the product.
The buyer persona depends at first of your business type (what will you produce and to whom).
