In the markets for the factors of production in the circular-flow diagram, households are buyers and firms are sellers.

Name: In the markets for the factors of production in the circular-flow diagram, households are buyers and firms are sellers.
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In the markets for the factors of production, households are the sellers who provide labor, land, and capital, while firms are the buyers who purchase these inputs to produce goods and services.

In the Markets for the Factors of Production in the Circular-Flow