Will give in a circular flow diagram, labor and other factors of production are sold in resource markets. these resources are then used to produce goods and services sold in product markets. how are businesses involved in this flow? question 1 options: businesses sell goods and services in product markets. in product markets, businesses sell factors of production. businesses purchase goods and services in product markets. in resource markets, individuals buy factors of production.

In resource markets, individuals buy factors of production.

Businesses sell goods and services in product markets.

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the committees of correspondence were the american colonies’ means for maintaining communication lines in the years before the revolutionary war. in 1764, boston formed the earliest committee of correspondence to encourage opposition to britain’s stiffening of customs enforcement and prohibition of american paper money. the following year, new york formed a similar committee to keep the other colonies notified of its actions in resisting the stamp act. in 1773, the virginia house of burgesses proposed that each colonial legislature appoint a committee for intercolonial correspondence. the exchanges that followed built solidarity during the turbulent times and bring about the formation of the first continental congress in 1774.

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