In the circular flow model o goods markets provide for the transfer of money and
ID: 1133800 • Letter: I
Question
In the circular flow model o goods markets provide for the transfer of money and labor markets provide for the transfer of inputs. O labor markets provide for the transfer of money and goods markets provide for the transfer of inputs. O resource markets provide for the exchange of labor and product markets provide for the exchange of goods and services O resource markets provide for the goods and services and product markets provide for the exchange of exchange of labor In the circular flow model businesses sell goods and sell labor, households buy goods and buy labor businesses sell goods and buy labor, households buy goods and sell labor businesses buy goods and buy labor, households sell goods and sell labor businesses buy goods and sell labor, households sell goods and buy labor In the circular Flow model there is a flow of Otabor and a flow of money real goods and services and a flow of output. real goods and services and a flow of labor reel goods and services and s flow of moneyExplanation / Answer
1. In the circular flow model
resource markets provide for the exchange of labor and product markets provide for the exchange of goods and services
So correct ans is C).
2. In the circular flow model
BUSINESSES sell goods and buy labor; HOUSEHOLDS buy goods and sell labor
So correct ans is b)
3. In the circular flow model there is a flow of
real goods and services and a flow of money
So correct ans is d)