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Economics for Today 9th Edition by Irvin Tucker
Edition 9ISBN: 978-1305507111Economics for Today 9th Edition by Irvin Tucker
Edition 9ISBN: 978-1305507111 Exercise 29
If Lacy buys a smoothie at the corner store, which of the following best relates this transaction to the circular flow model?
A) Goods flow from firms and money flows from households through the product markets.
B) Resources (land, labor, or capital) flow from households, and money flows from business in the product markets.
C) Income flows from the factor markets, and goods flow into the factor markets.
D) Resources flow into households, and back into the goods and services markets.
A) Goods flow from firms and money flows from households through the product markets.
B) Resources (land, labor, or capital) flow from households, and money flows from business in the product markets.
C) Income flows from the factor markets, and goods flow into the factor markets.
D) Resources flow into households, and back into the goods and services markets.
Explanation
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Person L purchases a smoothie at the cor...
Economics for Today 9th Edition by Irvin Tucker
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