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According to the circular flow model which of the following do producers provide to consumers?
wages APEX
What is provided by the consumers in the circular flow of the free market system?
WagesApex approved
What is the circular flow of economic activity?
[NovaNet] the movement of income from producers of goods and services to consumers, and back to producers. [Study Island] Consumer spending drives demand for goods and services.
Consumers selling goods and services electronically to other consumers best describes?
consumer-to-consumer electronic commerce.
The movement of income from producers of goods and services to consumers and back to producers is known as the?
The movement of income from producers of goods and services to consumers, and back to the producer is known as the circular flow. Circular flow is generally shown in a circular flow chart or model.
What do consumers do that influences producers according to the circular flow model?
Purchase goods and services
Why is consumer sovereignty considered an advantage?
Consumer sovereignty is an advantage because it is the consumers who determine the services and goods produced.
How do consumer groups benefit consumers?
The company can stay in business to provide services.
According to the circular flow model what is something consumers do that influences producers?
Purchase goods and services
Are people who use goods or services consumers?
True. They can be termed as consumers. The person who buys the goods or services is the customer and person who uses the product is consumer. This can be understood by following example, 'a mother buying diaper is the customer, and baby who uses it is the consumer.
What is the relationship between producers and consumers in a simple circular flow of income model?
In a simple circular flow of income model, producers and consumers interact in a continuous exchange. Producers supply goods and services to consumers, who, in turn, provide income to producers through their spending. This flow creates a cycle where consumer demand drives production, while producer output generates income for consumers. The relationship highlights the interdependence between both groups in sustaining economic activity.
The movement of income from producers of goods and services to consumers and back to producers is known as what?
Circular Flow Of Income
