Question 15 Not yet answered Marked out of 1.00 Flag question In the simple circular-flow diagram, markets consist of: Select one: a. the market for goods and services and the market for factors of production b. the market for goods and services and the financial market c. the market for goods and services d. the market for the factors of production
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Households are the consumers in the economy, and they own the factors of production such as labor, land, and capital. They supply these factors to the firms in the market for factors of production. Show more…
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