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.
Answer:
Economics is the study of how societies use scarce resources to produce valuable commodities and distribute them among different people
hope this helps
Explanation:
Answer:
a) process
Explanation:
The P's are Product, Pricing, Place, Promotion, People, Process and Physical Evidence and for Traditional Marketing is Product, Pricing, Place and Promotion
Answer:
2. Small household: 1-2 members.
Explanation:
The small household will require lesser things. The Sauber washer-dryer combo is suitable for small houses where there are 1 or 2 people living there. It is suitable for newly wed couple or old aged couple or 2 people living together on sharing basis. The best suited is to target such households for marketing of new washer dryer combo.
