NAME SECTION# PRINT LAST NAME, FIRST NAME In the circular flow model, the household sector goods and services in 8. markets. demands; product supplies; product demands; resource a. b. Appendix: C. d. supplies; resource Economics relies on mathematical students to apply their knowledge of arith graphing functions, and some geometry and analyze relationships between varis In the circular flow model, the business sector the factors of production (inputs) 9. in markets. demands; product supplies; product demands; resource supplies; resource a. Most of the mathematical calc subtraction, multiplication, or divisic (quantities). Students are often encc calculations. It may be necessary te example, to calculate average tota is equal to total cost divided by th produce 50 units of output, then Some students regard these rela the student's background and numbers and have difficulty k helpful. b. C. d. In the circular flow model, firms in the business sector product markets and demand; demand supply; supply demand; supply supply; demand 10. goods and services in inputs in resource markets. a. b. C. d. Sometimes, it is nec suppose the information th is provided, but you are as een tota SECTION# NAME PRINT LAST NAME, FIRST NAME THE CIRCULAR FLOW MODEL Fill in the missing information: The household sector includes consumers and workers (labor), as well as owners of other factors of production. The business sector includes many different organizations, from grocery stores to steel mills. market. 1. Consumers purchase goods and services in the roduct market. h 2. Workers obtain employment in the \Lesource market. Firms employ workers in the Vesource 3. market. 4. Firms earn revenue by selling output in the rduct Goods and Services market 5. Product Output Household Sector Business Sector 6. Lesource market aslamxo Payments Income The diagram above shows that business firms produce output, which becomes the goods and services purchased by households. The sale of output generates for business firms. The difference between total revenue and total cost is called The diagram above shows that business firms make payments to households, giving house income. The part of income used to purchase goods and services is called 9. The income that remains after consumers purchase output is called 10.

Question

Question 10

NAME
SECTION#
PRINT LAST NAME, FIRST NAME
In the circular flow model, the household sector goods and services in
8.
markets.
demands; product
supplies; product
demands; resource
a.
b.
Appendix:
C.
d.
supplies; resource
Economics relies on mathematical
students to apply their knowledge of arith
graphing functions, and some geometry
and analyze relationships between varis
In the circular flow model, the business sector
the factors of production (inputs)
9.
in
markets.
demands; product
supplies; product
demands; resource
supplies; resource
a.
Most of the mathematical calc
subtraction, multiplication, or divisic
(quantities). Students are often encc
calculations. It may be necessary te
example, to calculate average tota
is equal to total cost divided by th
produce 50 units of output, then
Some students regard these rela
the student's background and
numbers and have difficulty k
helpful.
b.
C.
d.
In the circular flow model, firms in the business sector
product markets and
demand; demand
supply; supply
demand; supply
supply; demand
10.
goods and services in
inputs in resource markets.
a.
b.
C.
d.
Sometimes, it is nec
suppose the information th
is provided, but you are as
een tota
View transcribed image text
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SECTION#
NAME
PRINT LAST NAME, FIRST NAME
THE CIRCULAR FLOW MODEL
Fill in the missing information:
The household sector includes consumers and workers (labor), as well as owners of other factors
of production. The business sector includes many different organizations, from grocery stores to
steel mills.
market.
1.
Consumers purchase goods and services in the roduct
market. h
2.
Workers obtain employment in the \Lesource
market.
Firms employ workers in the Vesource
3.
market.
4.
Firms earn revenue by selling output in the rduct
Goods and Services
market
5. Product
Output
Household Sector
Business Sector
6. Lesource
market
aslamxo
Payments
Income
The diagram above shows that business firms produce output, which becomes the goods and
services purchased by households.
The sale of output generates
for business firms.
The difference between total revenue and total cost is called
The diagram above shows that business firms make payments to households, giving house
income.
The part of income used to purchase goods and services is called
9.
The income that remains after consumers purchase output is called
10.
View transcribed image text
Expand

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Transcribed Image Text

NAME SECTION# PRINT LAST NAME, FIRST NAME In the circular flow model, the household sector goods and services in 8. markets. demands; product supplies; product demands; resource a. b. Appendix: C. d. supplies; resource Economics relies on mathematical students to apply their knowledge of arith graphing functions, and some geometry and analyze relationships between varis In the circular flow model, the business sector the factors of production (inputs) 9. in markets. demands; product supplies; product demands; resource supplies; resource a. Most of the mathematical calc subtraction, multiplication, or divisic (quantities). Students are often encc calculations. It may be necessary te example, to calculate average tota is equal to total cost divided by th produce 50 units of output, then Some students regard these rela the student's background and numbers and have difficulty k helpful. b. C. d. In the circular flow model, firms in the business sector product markets and demand; demand supply; supply demand; supply supply; demand 10. goods and services in inputs in resource markets. a. b. C. d. Sometimes, it is nec suppose the information th is provided, but you are as een tota

SECTION# NAME PRINT LAST NAME, FIRST NAME THE CIRCULAR FLOW MODEL Fill in the missing information: The household sector includes consumers and workers (labor), as well as owners of other factors of production. The business sector includes many different organizations, from grocery stores to steel mills. market. 1. Consumers purchase goods and services in the roduct market. h 2. Workers obtain employment in the \Lesource market. Firms employ workers in the Vesource 3. market. 4. Firms earn revenue by selling output in the rduct Goods and Services market 5. Product Output Household Sector Business Sector 6. Lesource market aslamxo Payments Income The diagram above shows that business firms produce output, which becomes the goods and services purchased by households. The sale of output generates for business firms. The difference between total revenue and total cost is called The diagram above shows that business firms make payments to households, giving house income. The part of income used to purchase goods and services is called 9. The income that remains after consumers purchase output is called 10.