Asked by
Darius Esdaile
on Nov 25, 2024Verified
In the circular flow model of the market system, business's major role is to
A) buy products and resources.
B) sell products and resources.
C) buy products and sell resources.
D) sell products and buy resources.
Circular Flow Model
An economic model that depicts how money and products move through an economy, showing the interactions between households and businesses.
Resource Markets
Markets where productive resources (like labor, capital, and raw materials) are bought and sold.
Products
Goods or services that are created through a process of production and offered in the market to satisfy consumer needs or wants.
- Recognize the contributions of households and businesses to the market structure.
Verified Answer
LZ
Learning Objectives
- Recognize the contributions of households and businesses to the market structure.