History, 07.12.2020 23:50 vanessafalcon1198
A diagram titled Circular Flow Diagram, Mixed Market Economy showing a factor market and a product market. In a product market, households send payments to firms, paying taxes to the government. Then firms send wages, rent, and profit to households with taxes going to the government. In a factor market, households send land, labor, and capital to firms, with factors going to the government. Then firms send goods and services to households, with products going to the government. The government sends wages, interest, transfer payments to households, and payments and subsidies to Firms. According to the diagram, who is provided goods from firms? A. only households B. only governments C. both households and governments D. neither households nor governments
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