In the circular flow diagram, the counterclockwise direction shows the flow of \( \qquad \) , where households supply \( \qquad \) and businesses supply \( \qquad \) money; purchases of goods and services; income to households money; labor; goods and services goods and services; labor; goods and services goods and services; purchases of goods and services; income to households
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It represents the flow of resources, goods, services, and money between households and businesses in an economy. Show more…
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In the circular flow diagram, which of the following is true in the product market? (A) Households sell goods and services to business firms. (B) Households sell resources to business firms. (C) Business firms sell resources to households. (D) Business firms sell goods and services to households. (E) Households buy resources from business firms.
215. In the circular flow diagram, firms ________ labor and households ________ goods and services. a. demand; supply. b. demand; demand. c. supply; demand. d. supply; supply.
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