In the circular flow diagram, households get their ability to pay for their consumption expenditures from the revenues they receive for their products. costs they incur for resources. incomes they earn for their resources. goods and services they get in the product markets.

Microeconomics A Contemporary Intro
10th Edition
ISBN:9781285635101
Author:MCEACHERN
Publisher:MCEACHERN
Chapter3: Economic Decision Makers
Section: Chapter Questions
Problem 3QFR
icon
Related questions
Question
In the circular flow diagram, households get their ability to pay for their consumption
expenditures from the
revenues they receive for their products.
costs they incur for resources.
incomes they earn for their resources.
goods and services they get in the product markets.
Transcribed Image Text:In the circular flow diagram, households get their ability to pay for their consumption expenditures from the revenues they receive for their products. costs they incur for resources. incomes they earn for their resources. goods and services they get in the product markets.
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps

Blurred answer
Knowledge Booster
Factors Of Production
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
Microeconomics A Contemporary Intro
Microeconomics A Contemporary Intro
Economics
ISBN:
9781285635101
Author:
MCEACHERN
Publisher:
Cengage
Economics Today and Tomorrow, Student Edition
Economics Today and Tomorrow, Student Edition
Economics
ISBN:
9780078747663
Author:
McGraw-Hill
Publisher:
Glencoe/McGraw-Hill School Pub Co