Question

the simple circular flow model shows that workers, land owners, and owners of capital offer their services through: product markets

Answer 1

The simple circular flow model shows that workers, landowners, and owners of capital offer their services through resource(or Factor) markets. Thus, option (b) is correct.

What is circular flow model?

An economic model that depicts how money moves across the economy is the circular flow model. Businesses need resources to generate the goods and services that households and households buy.

The circular flow model is the based on the business and the households. The four factors of the recourses to the labor, entrepreneurship, land, and capital) these are the mainly used in the business to manufacturer their goods and produces the services.

As a result, the circular flow model are resource (or Factor) markets. Therefore, option (b) is correct.

Learn more about on circular flow model, here:

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Your question is incomplete, but most probably the full question was.

a) Product markets.

b) Resource(or Factor) markets.

c) Employment Agencies.

d) Business Firms.