Figure 2-15
-Refer to Figure 2-15. In the circular flow diagram, market K represents
A) households.
B) product markets.
C) firms.
D) factor markets.

Name: Figure 2-15 -Refer to Figure 2-15. In the circular flow diagram, market K represents A) households. B) product markets. C) firms. D) factor markets.
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Question

Figure 2-15 
-Refer to Figure 2-15. In the circular flow diagram, market K represents
A) households. 
B) product markets. 
C) firms. 
D) factor markets.

Quizplus · Accepted Answer

Factor markets are where households sell their labor and other resources to firms in exchange for income.

Figure 2-15 -Refer to Figure 2-15. in the Circular Flow Diagram, Market