Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Question 9 2 pts In the circular flow model, Product markets Arrow A Arrow B Businesses Households Arrow C Arrow D Factor markets O households

image text in transcribed
Question 9 2 pts In the circular flow model, Product markets Arrow A Arrow B Businesses Households Arrow C Arrow D Factor markets O households demand goods and services which are supplied by firms, and the firms demand resources that are supplied by intermediate firms. O households demand goods and services that are supplied by firms, while supplying resources that are demanded by firms. O households buy goods and services while firms sell goods and services. Firms obtain labor from households, capital from government, and raw materials from firms. O households buy goods and services and firms supply goods. Resources are supplied by other firms

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Inflation, Unemployment And Capital Malformations

Authors: Bernard Schmitt, Xavier Bradley, Alvaro Cencini

1st Edition

0429767064, 9780429767067

More Books

Students also viewed these Economics questions

Question

What questions do you have for us?

Answered: 1 week ago

Question

Relax your shoulders

Answered: 1 week ago

Question

Keep your head straight on your shoulders

Answered: 1 week ago

Question

Be straight in the back without blowing out the chest

Answered: 1 week ago