• explaining circular flow
• Identify the primary economic decision makers.
• Describe how money and resources are exchanged in the resource market, indicating:
• Who gets the resources?
• Who gets the income?
• Describe how money, goods, and services are exchanged in the product and services market, indicating:
• Who receives the goods and services?
• Who gets the income?
• Are there any other participants in an economy that are not represented in this simple model.