Correctly place the items from the circular flow model above under the product or resource/factor market.
Business firms earn revenue
Business firms buy resources
Households earn income
Business firms buy and households sell
Business firms sell and households buy
Households buy goods/services
Business firms pay the costs of production
Product Market
Resource/Factor Market
The factor payments for land, labor, capital, and entrepreneurship respectively are:
When you deposit $100 into a savings account at the bank to be used later, what function is money serving?
When an advertisement says the new iphone 11 costs $1,000, what function is money serving?
When you pay $20 to see the latest Marvel movie, what function is money serving?