Answer:
[2] goods market and factor market.
Explanation:
The circular flow of income shows how exchange of money, goods and services occur in an economy.
the two flow circular income model consists of an household and a firm.
The household buys factors of production from the household in exchange for money (firms buys from the factor market). In return, households receive payment.
households then go to the goods market to purchase goods and services.
Answer:
B. work motivation is a function of a wide variety of factors,Including pay,social relationships,meaning interests, and attitudes
Answer:
Explanation:
Sunk, or past, costs are monies already spent or money that is already contracted to be spent. A decision on whether or not a new endeavor is started will have no effect on this cash flow, so sunk costs cannot be relevant.
For example, money that has been spent on market research for a new product or planning a new factory is already spent and isn’t coming back to the company, irrespective of whether the product is approved for manufacture or the factory is built.
Committed costs are costs that would be incurred in the future but they cannot be avoided because the company has already committed to them through another decision which has been made.
Answer:
B) She has to share all of the profits with the partner.
Explanation:
A partnership is a business owned by two or more parties while a sole proprietorship is owned by one person. In the former, decisions are made jointly and the process might take long since all partners must consent to it. Another disadvantage is that all profits are shared between or among all partners unlike a sole proprietorship where the owner takes all the profits.
