The two basic markets shown by the simple circular ﬂow model are
A) capital goods and consumer goods.
B) competitive and regulated.
C) product and resource.
D) household and business.

Question

Quizplus · Accepted Answer

The simple circular flow model shows two basic markets: the product market, where goods and services are sold, and the resource market, where resources (like labor, capital, and land) are sold.

The Two Basic Markets Shown by the Simple Circular ﬂOw