Question: 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
Get step-by-step solutions from verified subject matter experts
