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Consumption Spending Product Markets Revenue Households Buy • Firms Sel Goods and Goods and services purchased Services Sold Households -Buys goods & services -Sell inputs Firms Inputs for Production Capital, Land, Labor, and Entrepreneurship Factor Markets (households sell, firms buy) Money Income Wages, Rent, Interest, and Profit

Consumption Spending Product Markets Revenue Households Buy • Firms Sel Goods and Goods and services purchased Services Sold Households -Buys goods & services -Sell inputs Firms Inputs for Production Capital, Land, Labor, and Entrepreneurship Factor Markets (households sell, firms buy) Money Income Wages, Rent, Interest, and Profit

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Identify where the appropriate entries go on the circular flow diagram?

Consumption Spending Product Markets Revenue Households Buy • Firms Sel Goods and Goods and services purchased Services Sold Households -Buys goods & services -Sell inputs Firms Inputs for Production Capital, Land, Labor, and Entrepreneurship Factor Markets (households sell, firms buy) Money Income Wages, Rent, Interest, and Profit
Transcribed Image Text:Consumption Spending Product Markets Revenue Households Buy • Firms Sel Goods and Goods and services purchased Services Sold Households -Buys goods & services -Sell inputs Firms Inputs for Production Capital, Land, Labor, and Entrepreneurship Factor Markets (households sell, firms buy) Money Income Wages, Rent, Interest, and Profit
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