Exam Question
The simple circular flow model shows that
- 1. households are on the demnd side of both product and resource markets
- 2. business are on the supply side of both product and resource markets
- 3. households are on the supply side of the resource market and on the demand side of the product market
- 4. business are on the demand side of the product market and on the supply side of the resource market
View Answer
Answer 3. households are on the supply side of the resource market and on the demand side of the product market
Practice set and Exam Quiz
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