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The Circular Flow of Economic Activity Consumer Business Product Narkpole spending Income Goods Goods Services Services Businesses Individuals Land Buy Capital productive Labor resources Entrepreneurs

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The Circular Flow of Economic Activity Consumer Business Product Narkpole spending Income Goods Goods Services Services Businesses Individuals Land Buy Capital productive Labor resources Entrepreneurs Payments for Global, National, and Local Income from resources Factor Markets resources Using the information in this diagram, explain who participates in the product market and explain the importance of the factors of production. (use appropriate key terms from your review sheet when crafting your answer)

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