The two basic markets shown by the simple circular flow diagram are:
A)capital goods and consumer goods
B)free and controlled
C)product and resource
D)household and business
E)government and private

Question

Quizplus · Accepted Answer

The simple circular flow diagram illustrates two primary types of markets: the product market, where goods and services are sold, and the resource market, where resources (like labor, capital, and land) are sold.

The Two Basic Markets Shown by the Simple Circular Flow