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Sketch a diagram to show the economic interactions between households and firms in the factors and goods market. (Recall: Clockwise and anti-clockwise directions of flow

Sketch a diagram to show the economic interactions between households and firms in the factors and goods market.

(Recall: Clockwise and anti-clockwise directions of flow in the interactions between households and firms.)

Describe and explain your diagram in detail.

2. Give 2 examples of households providing factors of production in our daily activities.

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