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Elza [17]
3 years ago
9

How are the roles of resource owners and firms explained by the circular flow diagram of economic activity?

Social Studies
1 answer:
emmainna [20.7K]3 years ago
5 0

The answer would be that resource owners are a group of people that live in a single residence (a family for example). These are also consumers of products and services. Meanwhile firms are explained as an organization that creates a good or a service, through the use of resources such as capital. They create goods and services out of factors of production.

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