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What is the role for consumers and producers in a free market system?

A circular flow model


Circular flow refers to the economic model that describes which of the following?

mutual circulation of income between producers and consumers


To which principle does circular flow refer?

The circular flow refers to a simple economic model which describes the reciprocal circulation of income between the consumers and producers. Thanks


According to the circular flow model which of the following is not provided by consumers?

Wages


According to the circular flow model what do producer provide to consumers?

WagesApex approved


According to the circular flow model which of the folloing do producer provide to consumers?

Wages


Why circular flow model characterizes the free market system?

Consumers and producers influence each other in a circular fashion.


What role do people who go into the market play in the circular flow model?

Consumers to buy


What do consumers do that influences producers according to the circular flow model?

Purchase goods and services


According to the circular flow model which of the following do producers provide to consumers?

wages APEX


According to the circular flow model what is something consumers do that influences producers?

Purchase goods and services


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.

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