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In the circular flow of goods and services what does the resource market represent?
Wiki User
∙ 9y ago
all the exchanges of goods and services in an economy
Wiki User
∙ 9y ago
Madeline
Money payments made to households by business firms and the government A+
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In terms of the circular flow diagram businesses obtain revenue through the market and make expenditures in the market?
Resource; Product
Difference between resource market and intermediate market?
To make it complex, resource market are the market that sell RAW materials, which can be divided into three type - Natural resource market, which sell all goods and service obtained from our environment, such as lumber, oil, and etc. - Human resource market, which mean the labor demand and supply (The needs of employees) - Financial resource market, which means the provision of finance service, such as banks While industrial market, sell goods and services that has been manufactured from industrial market As example, Resource market sell Lumber, and Intermediate market buy the goods that has been processed from Industrial market. Intermediate market consist of retailers and wholesalers. To make it easier to understand Resource market - Sell item from nature, or in form of labor. E.g Crops, oils, milk Intermediate market - Sell goods that "Resource market" sold to "industrial market" and has been processed by "Industrial market" e.G Resource market - "Chop trees" - gain lumber, and sell Industrial market - Buy lumber, manufacture "processed wood" from lumber Intermediate market - buy the processed wood and sell it to consumer
Market basket weekly sales circular?
Only online...
What is the difference between resource market and product market?
Wet wipes come in several diffrent flavours.
Which market or markets are consumer goods and services bought into?
Goods or services bought by a consumer are bought in the consumer market. The consumer market includes fast moving consumer goods, consumer durables, soft goods and services.
What does the resource market represent?
The resource market represent a platform for exchange. People are able to exchange their products or services for money at the market.
In the circular flow of good and services what does the product market represent?
all the exchanges of goods && services
In the circular flow of goods and services what does the product market represent?
all the exchanges of goods && services
What Distinguish between the resource market and the product market in the circular flow model?
businesses purchase what they use to produce goods and services. Resources are in the form of labor, natural resources, capital, and entrepreneurship, all of which are supplied by households.
In terms of the circular flow diagram businesses obtain revenue through the market and make expenditures in the market?
Resource; Product
In a resource market goods and services are sold mainly to?
producers
What are two types of payments in the free market circular flow model?
Resource and product markets.
Describe the circular Flow Model?
The circular flow model is a summary of the operation of a market economy, that is the flow between production factors (firms) and households. Firms provide an income to households though employment (labour) and in the same manor households spend their income on firms for services and products.
What are the actions of producers in the circular flow model?
sell good and services i the market
What is something that a resource market is least likely to sell?
goods and services
What are the two payments in the free market circular flow model?
Resource markets and product markets are the two payments int he free market circular flow model. Both of these markets are for businesses and households.
According to the circular flow model on what is all household income spent?
Are sellers in labor market and buyers in the goods and services market
