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Draw a circular flow diagram and label all of the following: Households (individuals/Consumers), Firms (Businesses/Firms), Factor Market (Input/Resource Market), Product Market, Revenue, Household

Draw a circular flow diagram and label all of the following: Households (individuals/Consumers), Firms (Businesses/Firms), Factor Market (Input/Resource Market), Product Market, Revenue, Household Expenditures, Factors of Production (Land, Labor, Capital, Entrepreneurship), Factor Payments: Rent, Wages&Salaries, interest, profit. Place Factor Market on the top center position.

Apr 12 2021 View more View Less

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