Answer:
[2] goods market and factor market.
Explanation:
The circular flow of income shows how exchange of money, goods and services occur in an economy.
the two flow circular income model consists of an household and a firm.
The household buys factors of production from the household in exchange for money (firms buys from the factor market). In return, households receive payment.
households then go to the goods market to purchase goods and services.
Answer:
Implied warrenty
Explanation:
The sale itself constituted an implied warranty of merchantability but not an express warranty or a warranty of fitness for a particular purpose.
<span>The Gini ratio for lifetime income is less than the Gini ratio for annual income.</span>
Answer:
Because economists believe that people pursue their best interests
Explanation:
- The word economy is derived from the Greek word meaning household and which is an area of production and distribution The role of an economist is to analysis and monitor trends and develop forecasts analysis data and develop economic policies.
- As they give certain predictions or estimates of the economy by reflecting on the economic activities that are performed by the people as assuming tat the man behaves rationally.
