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What is the definition of real flow in economics?
The flows of factors of production that go from households through factor markets to firms and of the goods and services that go from firms through goods markets to households.
Households pay firms for goods and services. Firms supply households with goods and services. The purchase and supply of goods and services takes place in the?
product market
Households pay firms for goods and services. Firms supply households with goods and services. The purchase and supply of goods and services takes place in the .?
product market
Households pay firms for goods and services Firms supply households with goods and services the purchase and supply of goods and services takes place in the?
It's Product Market.
Is gross domestic product goods and services produced by a foreign firms?
Gross Domestic Product (GDP) measures the total value of goods and services produced within a country's borders, regardless of whether they are produced by domestic or foreign firms. Therefore, the output of foreign firms operating within the country contributes to the GDP. However, GDP does not include goods and services produced by domestic firms abroad. In summary, GDP encompasses both domestic and foreign production occurring within the nation's territory.
What is the definition of real flow in economics?
The flows of factors of production that go from households through factor markets to firms and of the goods and services that go from firms through goods markets to households.
Households pay firms for goods and services. Firms supply households with goods and services. The purchase and supply of goods and services takes place in the .?
product market
Households pay firms for goods and services. Firms supply households with goods and services. The purchase and supply of goods and services takes place in the?
product market
Households pay firms for goods and services Firms supply households with goods and services the purchase and supply of goods and services takes place in the?
It's Product Market.
What are the roles of household and firm in a market economy?
Consider an economy consisting of households and firms which interact in two markets i.e. the goods and services market in which firms sell and households buy; and the labor market in which households sell labor to business firms or other employees. Required: Illustrate the above economy on a diagram
What markets are markets where producers offer goods and services for sale?
the Fred marcket
What are the roles of households and firms in a market?
Consider an economy consisting of households and firms which interact in two markets i.e. the goods and services market in which firms sell and households buy; and the labor market in which households sell labor to business firms or other employees. Required: Illustrate the above economy on a diagram
Firms produce goods and services?
Gross national product...
What are the output in industries and businesses?
Goods and services.
Does processing firms move raw materials to factories and finishedgoods rto markets?
Yes, processing firms typically transform raw materials into finished goods within their facilities before they are transported to markets for sale. The processing firms add value to the raw materials through manufacturing and assembly processes, making the goods ready for distribution and consumption in the markets.
Those who advocate the marginal productivity theory of income distribution argue that?
Resource markets will set incomes based on workers' contributions to the output of scarce goods and services
What diagram shows the movement of goods and services and money from firms to households and from households to firms?
Circular flow
