Mic1: circular flow model, barter, functions of money
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Posljednje ažuriranje over 6 years ago
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Correctly place the items from the circular flow model above under the product or resource/factor market.
Households earn income
Business firms sell and households buy
Business firms buy resources
Business firms pay the costs of production
Business firms buy and households sell
Business firms earn revenue
Households buy goods/services
Product Market
Resource/Factor Market
The factor payments for land, labor, capital, and entrepreneurship respectively are:
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