- Circular flow: it represents the transactions in a economy
1. Product Market
-firms sells goods and services that they produce to the House
2. Factor Market
-it is a place where House holds sell their resources and business by there resources
FIRM
-it is an organization that produces goods and services for sells
House Holds (Where we stand)
-a person or a group of people that share their income
Very informative and helpful. Some grammar mistakes here and there but other than that, it is great!
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