Answered: In a circular flow model, the source of…

In a circular flow model, the source of the factors of production used to create goods and services is... a) Product market b) Households c) Firms d) Foreign exchange market

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

In a circular flow model, the source of the factors of production used to create goods and services is...

a) Product market

b) Households

c) Firms

d) Foreign exchange market

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