The simple circular flow model shows that workers and, Business Economics

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The simple circular flow model shows that workers and

Question A : The simple circular flow model shows that workers and capital owners offer their services to firms through the :

(A) Product Markets

(B) Resource Market

(D) Government Agencies

Questions B: In the circular flow model, households earn their income in the :

(A) Resource Markets

(B) Product Market

(D) Money Market

Question C : A increase in demand coupled with a simultaneous and bigger decrease in supply will cause equilibrium :

(A) Price to go uo and quantity to go down.

(B) Price to go up and quantity to go up.

(D) Price to go down and quantityto go up.

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