Figure 2.19 Alt text for Figure 2.19: In figure 2.19, a circular flow diagram.
Long description for Figure 2.19: 4 circles arranged in a circle, labelled as follows, clockwise from the top center: Economic Agents M, Market Economic Agents J, and an unmarked circle.The flow of wages and salaries goes from market K to Economic agents M.The flow of labor services goes from Market K to Economic Agents J.
-Refer to Figure 2.19.In the circular flow diagram, Market K represents

Question

Figure 2.19  Alt text for Figure 2.19: In figure 2.19, a circular flow diagram.
Long description for Figure 2.19: 4 circles arranged in a circle, labelled as follows, clockwise from the top center: Economic Agents M, Market Economic Agents J, and an unmarked circle.The flow of wages and salaries goes from market K to Economic agents M.The flow of labor services goes from Market K to Economic Agents J.
-Refer to Figure 2.19.In the circular flow diagram, Market K represents

Quizplus · Accepted Answer

Market K represents the factor market where firms purchase labor services from economic agents, represented by Market J, and economic agents receive wages and salaries, represented by Market M. Thus, the correct choice is D, factor markets.

Figure 219 Alt Text for Figure 2