In the circular flow model,households function on the selling side of the resource market and the buying side of product markets.

Name: In the circular flow model,households function on the selling side of the resource market and the buying side of product markets.
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Question

Quizplus · Accepted Answer

This statement is true. In the circular flow model, households supply resources to firms through the resource market (such as labor) and then purchase goods and services produced by those firms in the product market.

In the Circular Flow Model,households Function on the Selling Side