An economic model that depicts how money moves across the economy is the circular flow model. Businesses need resources to generate the goods and services that households and households buy.
What is economy?
The mechanism through which a nation or region organizes its money, industry, and trade is concerned to as its “economy.”
The most popular version of this model displays the circular flow of revenue between the consumer and business sectors. The product market and the resource market are placed between the two.
Consumer spending is the mechanism through which households' money flows to the market for goods and services when they are in need of them. The product market purchases goods and services from companies and sells them to households, making a profit.
As a result, in the circular flow of the economy, money is utilised to purchase goods and services.
Learn more about on circular flow model, here:
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"libations offering milk and honey, then sweet wine, then pure water; over these scattered white barley meal - sacrifice a splendid barren heifer - precious gifts; the best black ram in all the flocks" Source:https://quizlet.com/14122837/odyssey-comprehension-books-11-18-flash-cards/
Answer: False.
Explanation: Even though The American Federation of Labor and Congress of Industrial Organizations (AFL–CIO) represents the largest federation of unions in the U.S. with more than 12 million active and retired workers, it does not mean that they are the only one in the country, as Change to Win Federation, for example.
There are 38 universities
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