Answered: In the circular-flow diagram, which of…

In the circular-flow diagram, which of the following do firms NOT do? a. use factors of production to produce output b. produce goods and services c. hire workers d. produce factors of production

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

In the circular-flow diagram, which of the following do firms NOT do?

a. use factors of production to produce output

b. produce goods and services

c. hire workers

d. produce factors of production

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