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
Note 
Flashcards (41)