Circular flow of economic activities
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Q. Explain the circular flow of economic activities
Q. The supplies the land, labour, capital, and organization to the production unit.
- household unit
- factory unit
- organising unit
- office unit
Q. What is the relation between household units and production units?
- They are directly dependent.
- They are independent.
- They are indirectly dependent.
- None of the above
Q. Choose the right option describing the two statements given below.
Assertion(A): There is a circular flow of economic activities of production processes.
Reason(R): The household units provide the production units with factors of production when required.
Assertion(A): There is a circular flow of economic activities of production processes.
Reason(R): The household units provide the production units with factors of production when required.
- A is true but R is false.
- Both A and R are true and R is the correct explanation of A.
- Both A and R are true but R is not the correct explanation of A.
- A is false but R is true.