Problem related to market circular flows

In output markets, the simple circular flow model, households replace their _________ for _________.

Can someone help me in determining the right answer from the given options. (1) Resources | income. (2) Labor | goods. (3) Income | goods. (4) Goods | profits. (5) Devotion | enlightenment.

   Related Questions in Business Economics

  • Q : Describe the equation of a linear

    Describe the equation of a linear relationship?

  • Q : Neoclassical and heterodox production

    One of my friends can't discover the answer of this question. Give solution of this question. Neoclassical production and cost theory is more realistic than and cost theory and heterodox production. Discuss.

  • Q : Estimate the impact of education on

    Using a random sample of 670 individuals for the population of people in the workforce in 1976, we want to estimate the impact of education on wages. Let wage denote hourly wage in 1976 U.S. dollars and let educ denote years of schooling. We obtain the following OLS regression line: wage = -0.54

  • Q : Define Benefit Cost Ratio or

    Briefly describe the term Benefit Cost Ratio (or B/C Ratio) or Profitability Index (or PI)?

  • Q : Marketing in action Which of the

    Which of the following are examples of public goods?

  • Q : Entertainment tax-Indirect tax Why

    Why entertainment tax comes in indirect tax? Answer: Since its burden can be shifted to others.

  • Q : Activities of speculators in long turn

    The activities of speculators tend to, in the long run: (w) decrease the volatility of prices. (x) attract legal attention resulting in imprisonment. (y) increase the level and volatility of prices. (z) yield tremendous profits and raise costs to cons

  • Q : Describe unexpected deflation Describe

    Describe unexpected deflation?

  • Q : Illustrate the Comparative advantage

    Illustrate the Comparative advantage and terms of trade?

  • Q : Explain the shapes of the

    Specify and explain the shapes of the marginal-benefit and marginal-cost curves and use these curves to determine the optimal allocation of resources to a particular product.  If current output is such that marginal cost exceeds marginal benefit, should more or l

©TutorsGlobe All rights reserved 2022-2023.