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Compare the circular flow diagrams of a free market and mixed economy describe hoe they differ and why?
In a mixed economy, the government purchases land, labor,and capital from households in the factor market, and purchases goods and services in the product market.
Circular flow of income in a four sector economy?
product market
Which way does money flow in the circular flow?
From the product market to households.
Household purchase goods and services in the what market?
Product market
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 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 resource market represent?
all the exchanges of goods and services in an economy
Compare the circular flow diagrams of a free market and mixed economy describe hoe they differ and why?
In a mixed economy, the government purchases land, labor,and capital from households in the factor market, and purchases goods and services in the product market.
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.
Circular flow of income in a four sector economy?
product market
Which way does money flow in the circular flow?
From the product market to households.
Household purchase goods and services in the what market?
Product market
What are the actions of producers in the circular flow model?
sell good and services i the market
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.
What role do businesses that go to the market play in the circular flow model?
Businesses go to the market to sell their product.
What is an example of product market?
A product market is where finished goods and services are sold to consumers. The product market can be found at supermarkets, grocery stores, and online marketplaces
What role do business that go to the market play in the circular flow model?
to sell their product
