1. which are features of the circular flow model? firms demand labor households supply labor households…
1. which are features of the circular flow model? firms demand labor households supply labor households demand goods and services firms supply goods and services
Answer
Brief Explanations:
In the circular - flow model of the economy, firms demand labor from households to produce goods and services. Households supply that labor. Households also demand goods and services produced by firms, and firms supply those goods and services to households.
Answer:
Firms demand labor Households supply labor Households demand goods and services Firms supply goods and services