Answered

In a circular flow diagram, businesses represent the elements of the economy that:

A. purchase and consume products.
B. produce goods and services.
C. provide labor for resource markets.
D. provide businesses with materials.



Answer :

GinnyAnswer

Final answer:

Businesses in a circular flow diagram represent the production of goods and services in the economy through interactions with households.


Explanation:

In a circular flow diagram, businesses represent the elements of the economy that produce goods and services. They interact with households in the product market by selling goods and services for revenues and in the labor market by hiring labor services.


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