Please solve the following questions

Label each component of the circular flow diagram. Goods and Markets for Services Goods and Services Money Factors Firms Households Markets for Factors of ProductionThere are several economic explanations for why trade is so commonplace. Match each of the examples listed below with the economic concept that best explains the behavior or observation. X Comparative Advantage Specialization or Economies of Scale Swiss watch manufacturers Doctors becoming experts producing high quality time pieces. in one type of medicine rather U.S. auto makers offering a great variety than becoming proficient in many areas. of makes and models of cars. Your economics professor paying The ability of developing nations a gardener to do work that he/she to export textiles to wealthier countries. could do on their own. Incorrect. What must your professor give up if he/she does their own yard work? What must their gardener give up