In the circular flow model,there are two types of markets: the ________ market and the ________ market.

Question

Quizplus · Accepted Answer

The two types of markets in the circular flow model are the goods market and the factor market. The goods market is where households purchase goods and services from firms, while the factor market is where firms purchase factors of production such as labor and capital from households. Therefore, option B is the correct answer.

In the Circular Flow Model,there Are Two Types of Markets