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In terms of the circular flow diagram businesses obtain revenue through the market and make expenditures in the market?
Resource; Product
Difference between product market and resource market?
The product market is where goods and services are bought and sold, involving transactions between consumers and producers. In contrast, the resource market, also known as the factor market, is where factors of production—such as labor, land, and capital—are exchanged between businesses and resource owners. Essentially, the product market focuses on the end products, while the resource market deals with the inputs needed to produce those products. These two markets are interconnected, as the demand for products influences the demand for resources.
Difference between resource market and intermediate market?
To make it complex, resource market are the market that sell RAW materials, which can be divided into three type - Natural resource market, which sell all goods and service obtained from our environment, such as lumber, oil, and etc. - Human resource market, which mean the labor demand and supply (The needs of employees) - Financial resource market, which means the provision of finance service, such as banks While industrial market, sell goods and services that has been manufactured from industrial market As example, Resource market sell Lumber, and Intermediate market buy the goods that has been processed from Industrial market. Intermediate market consist of retailers and wholesalers. To make it easier to understand Resource market - Sell item from nature, or in form of labor. E.g Crops, oils, milk Intermediate market - Sell goods that "Resource market" sold to "industrial market" and has been processed by "Industrial market" e.G Resource market - "Chop trees" - gain lumber, and sell Industrial market - Buy lumber, manufacture "processed wood" from lumber Intermediate market - buy the processed wood and sell it to consumer
Market basket weekly sales circular?
Only online...
What is the difference between resource market and product market?
Wet wipes come in several diffrent flavours.
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.
In the circular flow of goods and services what does the product market represent?
all the exchanges of goods && services
In the circular flow of good and services what does the product market represent?
all the exchanges of goods && services
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 terms of the circular flow diagram businesses obtain revenue through the market and make expenditures in the market?
Resource; Product
In a resource market goods and services are sold mainly to?
producers
What are two types of payments in the free market circular flow model?
Resource and product markets.
Describe the circular Flow Model?
The circular flow model is a summary of the operation of a market economy, that is the flow between production factors (firms) and households. Firms provide an income to households though employment (labour) and in the same manor households spend their income on firms for services and products.
What are the actions of producers in the circular flow model?
sell good and services i the market
What is something that a resource market is least likely to sell?
goods and services
What are the two payments in the free market circular flow model?
Resource markets and product markets are the two payments int he free market circular flow model. Both of these markets are for businesses and households.
Which is provided by producers in the circular flow of the free-market system?
In the circular flow of the free-market system, producers provide goods and services to consumers. They supply these products in response to consumer demand, aiming to maximize profit. This interaction creates a continuous loop where money flows from consumers to producers in exchange for goods and services, and in turn, resources and labor flow from producers back to households. This dynamic maintains economic activity and facilitates resource allocation in the market.
