Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Title: Econ-U3-3.01-Std6-2 Use this diagram to answer the question below. This diagram shows the flow of money and resources in the factor and product market.

Title: Econ-U3-3.01-Std6-2 Use this diagram to answer the question below. This diagram shows the flow of money and resources in the factor and product market. Students should know what factors and products flow from one player in this model to another. The first four flows involve the flow of money. A is the flow from the factor market to household. B is the flow from businesses to the factor market. C is the flow from the product market to the businesses. D is the flow from the households to the product market. The remaining four flows involve the exchange of goods or services. E is the flow from households to the factor market. F is the flow from the factor market to businesses. G is the flow from businesses to the product market. H is the flow from product markets to households. In the diagram above, the arrow marked with the letter H represents __________. a payments received by producers for their goods and services b payments by consumers for goods and services c households' demands for goods and services d businesses providing goods and services to the product market

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

Microeconomics

Authors: Robert Pindyck, Daniel Rubinfeld

9th Edition

0134184246, 9780134184241

More Books

Students also viewed these Economics questions

Question

Differentiate 3sin(9x+2x)

Answered: 1 week ago

Question

Compute the derivative f(x)=(x-a)(x-b)

Answered: 1 week ago