Which of the following statements is + about a simple circular flow model?

Question

Quizplus · Accepted Answer

In the simple circular flow model, producers are buyers in the factors market as they purchase factors of production (such as labor, capital, and land) from households. Therefore, statement C is correct. Statement A is incorrect as producers are sellers in the product market, where they sell goods and services to households. Statement B is incorrect as households are buyers of goods and services in the product market. Statement D is incorrect as households are buyers in the product market, not sellers.

Which of the Following Statements Is + About a Simple