Question: Match the Circular Flow Model terms with their definitions. Prompt 1Producers sell and consumers buy goods and services Answer for prompt 1 Producers sell and
Match the Circular Flow Model terms with their definitions. Prompt 1Producers sell and consumers buy goods and services Answer for prompt 1 Producers sell and consumers buy goods and services Business Prompt 2Produced for sale in the product market and voluntarily exchanged Answer for prompt 2 Produced for sale in the product market and voluntarily exchanged Goods and Services Prompt 3Households provide land, labor, and capital to producers for a return on their labor or investment Answer for prompt 3 Households provide land, labor, and capital to producers for a return on their labor or investment Factor Market Prompt 4A person or group that produces goods and services Answer for prompt 4 A person or group that produces goods and services Product Market Prompt 5A person or group of individuals that occupy a housing unit Answer for prompt 5 A person or group of individuals that occupy a housing unit Household
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