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What kind of good and services does the government provide to the households and businesses list two example?
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Example of a productive resources that households sell to government?
Households usually only sell labor to the government or to any other firm. Households are not able to produce anything else that would be of use the the government. If a person was a government worker, that would be selling their labor to the government.
Using the circular flow model explain why the value of business output of goods and services equals the income of households?
Answer: The circular flow model is a diagram representing the flow of products and resources between businesses and households in exchange for money payments. Flow must distinguished from stocks. Flows are measured in units per time period - for example, dollars per year. Stock is a quantity measured at one point in time. For example, an inventory of goods or the amount of money in a checking account. Initially, we assume that the economy is composed of only two sector, business and household. In this hypothetical economy the business sector is the sole producer of goods and services and production occurs by hiring the factor of production. The household owns all the factors of production (land, labour, capital and entrepreneur). The flow of factor of production is shown by the flow from the household to the firm. We further assume that household are the sole buyers of goods and services and that they spend their entire income. The upper half of the diagram in Figure 1 represents product markets, in which households exchange money for goods and services produced by firms. The supply arrow in the top loop represents all finished products and the value of services produced, sold, and delivered to consumers. The demand arrow in the top loop shows why the businesses make this effort to satisfy the consuming households. When consumers decide to buy products, they are actually voting with their dollars. This flow of consumption expenditures from households is sales revenues to businesses and expenses from the viewpoint of households. Notice that the box labeled product markets contains a supply and demand graph. Price and quantities in individual markets are determined by the market supply and demand model without government interference. The forces of supply and demand determine the returns to the factors, for example, wages and the quantity of labour supplied. The bottom half of the circular flow diagram consists of the factor markets, in which firms demand the natural resources, labour, capital, and entrepreneurship needed to produce the goods and services sold in the product markets. The supply arrow in the bottom loop represents this flow of resources from households to firms, and the demand arrow is the flow of money payments for these resources. These payments also income earned by households in the form of wages, rents, interest, and profits. In the factor market, resources (land, labour and capital) are owned by households and supplied to businesses that demand these factors in return for money payments. Businesses seek profits by supplying goods and services to households through the product markets. Businesses therefore must purchase all resources from the households.
What is an example of a resource market?
Resource markets are when households sell and businesses buy, therefore, an example of a resource market is labor. Land, capital and entrepreneurial ability are also a few examples.
What are examples of Individual economic agents?
Individual people, firms, businesses, and households are examples of individual economic agents. An economic agent is any entity that makes purchasing, selling, or production decisions that affect an economy, and an independent economic agent makes these decisions independently (as opposed to, for example, a government office or a social movement).
Give an example of goods and services provided by the central government?
safety: police dept. funded by govt
What is an example of a good or service that a businesses sell to government?
Paper products is an example of goods that are frequently sold to the government. Services include technological assistance and auditing Accountants.
Example of a productive resources that households sell to government?
Households usually only sell labor to the government or to any other firm. Households are not able to produce anything else that would be of use the the government. If a person was a government worker, that would be selling their labor to the government.
Which of these could be an example of a money payment made to households by government?
taxes
How financial institutions affect households and business?
Financial institutions have affected households and businesses by determining who is eligible for a loan. For example, if someone is not approved for a loan, they would be unable to buy a home or a car.
Using the circular flow model explain why the value of business output of goods and services equals the income of households?
Answer: The circular flow model is a diagram representing the flow of products and resources between businesses and households in exchange for money payments. Flow must distinguished from stocks. Flows are measured in units per time period - for example, dollars per year. Stock is a quantity measured at one point in time. For example, an inventory of goods or the amount of money in a checking account. Initially, we assume that the economy is composed of only two sector, business and household. In this hypothetical economy the business sector is the sole producer of goods and services and production occurs by hiring the factor of production. The household owns all the factors of production (land, labour, capital and entrepreneur). The flow of factor of production is shown by the flow from the household to the firm. We further assume that household are the sole buyers of goods and services and that they spend their entire income. The upper half of the diagram in Figure 1 represents product markets, in which households exchange money for goods and services produced by firms. The supply arrow in the top loop represents all finished products and the value of services produced, sold, and delivered to consumers. The demand arrow in the top loop shows why the businesses make this effort to satisfy the consuming households. When consumers decide to buy products, they are actually voting with their dollars. This flow of consumption expenditures from households is sales revenues to businesses and expenses from the viewpoint of households. Notice that the box labeled product markets contains a supply and demand graph. Price and quantities in individual markets are determined by the market supply and demand model without government interference. The forces of supply and demand determine the returns to the factors, for example, wages and the quantity of labour supplied. The bottom half of the circular flow diagram consists of the factor markets, in which firms demand the natural resources, labour, capital, and entrepreneurship needed to produce the goods and services sold in the product markets. The supply arrow in the bottom loop represents this flow of resources from households to firms, and the demand arrow is the flow of money payments for these resources. These payments also income earned by households in the form of wages, rents, interest, and profits. In the factor market, resources (land, labour and capital) are owned by households and supplied to businesses that demand these factors in return for money payments. Businesses seek profits by supplying goods and services to households through the product markets. Businesses therefore must purchase all resources from the households.
What is an example of a resource market?
Resource markets are when households sell and businesses buy, therefore, an example of a resource market is labor. Land, capital and entrepreneurial ability are also a few examples.
What services does Merchant Bank offer to small businesses?
Merchants Bank offers a number of services to small businesses. This includes, for example, online banking, term loans, commercial mortgages, and flexible CDs.
What is an example of a municipal corporation in Canada?
Government services provided to citizens.
Which is not an example of services provided by government to business firms?
workers for a factory
Which of these is not an example of services provided by government to business firms?
workers for their factories
What are examples of Individual economic agents?
Individual people, firms, businesses, and households are examples of individual economic agents. An economic agent is any entity that makes purchasing, selling, or production decisions that affect an economy, and an independent economic agent makes these decisions independently (as opposed to, for example, a government office or a social movement).
What is the purpose of supply chain?
The purpose of supply chain management is interconnected between the provision of products and services in what businesses call a supply chain. It can, for example, exist between businesses or business networks.
