econ circular flow model

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10 Terms

1
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businesses/firms to product market

goods and services offered

2
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product market to households

goods and services consumed by households

3
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households to resource/factor market

labor and resources

4
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resource/factor market to businesses and firms

Labor and Resources

5
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product market to businesses and firms

revenue

6
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businesses and firms to resource/factor market

cash

7
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resource/factor market to households

income

8
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households to product market

consumer expenditures

9
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resource/factor market to businesses and firms to product market to households

physical flow

10
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households to product market to businesses and firms to resource/factor market

monetary flow