What does the circular-flow diagram illustrate in terms of markets for the factors of production? a. Households
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What does the circular-flow diagram illustrate in terms of markets for the factors of production?
a. Households are sellers and firms are buyers.
b. Households are buyers and firms are sellers.
c. Households and firms are both buyers.
d. Households and firms are both sellers.
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What does the circularflow diagram illustrate in terms of markets for the factors of production Concept The circularflow diagram is a visual representation of the flow of goods services and money betw...View the full answer
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Related Book For 
Principles Of Microeconomics
ISBN: 9780176872823
8th Canadian Edition
Authors: N. Mankiw, Ronald Kneebone, Kenneth McKenzie
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