24. In the circular flow model, which of the following describes the Bell family's role when they spend 200 per week at Riverside Grocery on food and household supplies? (1 Point) The Bell family is acting as a buyer in the product market. The Bell family is acting as a lender in the financial market. The Bell family is acting as a buyer in the resource market. The Bell family is acting as a seller in the resource market.

Question

24. In the circular flow model, which of the following describes the Bell family's role when they spend 200 per week at Riverside Grocery on food and household supplies? (1 Point) The Bell family is acting as a buyer in the product market. The Bell family is acting as a lender in the financial market. The Bell family is acting as a buyer in the resource market. The Bell family is acting as a seller in the resource market.

Answer 1

In the circular flow model, when the Bell family spends $200 per week at Riverside Grocery on food and household supplies, they are participating in the product market. Therefore, the correct description of their role is:The Bell family is acting as a buyer in the product market.

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