The circular flow model shows that consumer goods and services produced by business firms are sold in the

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The goods and services produced by business firms are sold in the goods market, which is the market where consumer goods and services are bought and sold. The financial market is where financial instruments like stocks, bonds, and currencies are traded. The factor market is where businesses purchase resources like labor, land, and capital. The labor market is a subset of the factor market and refers specifically to the market for labor services.

The Circular Flow Model Shows That Consumer Goods and Services