Asked by Claudia Morris on Jul 19, 2024
Verified
A grocery store benefits when a new furniture factory moves to town and hires workers because the:
A) new jobs at the factory will increase local incomes,some of which will be spent at the grocery store.
B) new factory will eliminate scarcity in the area.
C) presence of a new factory will guarantee that resources are used efficiently.
D) local circular flow will be smaller with a new factory in town.
Circular Flow
A model that depicts the continuous movement of money, goods and services, and factors of production between producers and consumers, within an economy.
Local Incomes
The amounts of money earned by individuals or households in a specific local area, which can reflect the economic conditions of that region.
Scarcity
The limited availability of resources to meet unlimited wants and needs.
- Understand the positive impact of local economic development on local businesses.
Verified Answer
Learning Objectives
- Understand the positive impact of local economic development on local businesses.
Related questions
The Small Business Administration (SBA) Estimates There Are Over 220 ...
Canadian Inuit Face Health Problems Related to High Levels of ...
Among What Indigenous Population Have Scientists Found the Highest Levels ...
The Collapse of Local Markets Due to Subsidized Foreign Imports ...
Each of the Following Is a Direct Form of Resistance ...