In the circular flow model, firms purchase in the
A) money market and sell in the product market
B) product market and sell in the resource market
C) resource market and sell in the money market
D) product market and sell in the product market
E) resource market and sell in the product market

Question

Quizplus · Accepted Answer

In the circular flow model, firms purchase factors of production (like labor, land, and capital) in the resource market and sell goods and services in the product market.

In the Circular Flow Model, Firms Purchase in the