Question: Circular Flow Model identify the primary economic decision-makers. Describe how money and resources are exchanged in the resource market, indicating: Who gets the resources? Who

Circular Flow Model

  • identify the primary economic decision-makers.
  • Describe how money and resources are exchanged in the resource market, indicating:
  • Who gets the resources?
  • Who gets the income?
  • Describe how money, goods, and services are exchanged in the product and services market, indicating:
  • Who receives the goods and services?
  • Who gets the income?
  • In addition, give a brief description of any other participants in an economy that are not represented in this simple model.

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