Answered

In the circular flow model, firms are buyers in which market and sellers in which market?

A. Firms sell in the product market and buy in the product market.
B. Firms sell in the resource market and buy in the product market.
C. Firms sell in the product market and buy in the resource market.
D. Firms sell in the product market and buy in the product market.



Answer :

GinnyAnswer

Final answer:

Firms sell in the product market and buy in the resource market in the circular flow model.


Explanation:

In the circular flow model, firms sell in the product market and buy in the resource market. This means that firms are buyers in the resource market, where they purchase resources such as labor, and sellers in the product market, where they sell goods and services.


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