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.
<span>Labor productivity is the ability to earn the highest amount of profit for a company for an employees time. Such as a chef, cooking 10 meals in an hour will bring in 100 dollars for those 10 meals and only gets paid 10 dollars. His labor productivity is earning the company 90 dollars for his time.</span>
I believe the answer is: Savings
When you experience a sudden emergency without preparation, you would most likely take out some percentage of money from your life savings to survive the crisis.To prevent this, most people decided to set aside an emergency fund at their banks or covered their risk by buying insurances.
They function as consumers and producers because while they work, they are creating goods/ providing services that contribute to the economy. When they get paid, they become consumers who buy goods/pay for services.
