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2. Label and explain (3-5 sentences) each element and its funct the circular flow diagram. ( GPB Econ Express, Concept 15-CFD) Role of Households (product

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2. Label and explain (3-5 sentences) each element and its funct the circular flow diagram. ( GPB Econ Express, Concept 15-CFD) Role of Households (product and factor markets) Role of Firms (Business) (product and factor markets) Role of Product (Goods and Services) Market Role of Factor (Resource) Market Role of Money

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