Column A 1. square Circle Flow Chart has how many markets? 2 __ Which markets are a part of the flow? 3. __ The Product Market sells __ 4. __ Goods and Services are produced by __ 5 __ Goods and services are sold to: 6. __ households give to businesses? Upon receiving the good or service what do 7. __ What 4 concepts make up the Factor Market? 8. __ Where do the resources <CELL> come from in the Factor Market? 9. __ the factor market Households provide businesses with __ in 10 __ provide households with __ In exchange for their labor or resources, business Column B a. Money b. Money/paycheck/salary or rent C. Factor and Product d. Business/ Firms e. Households/Individuals f. Two g. Labor and/or Resources h. Goods and Services 1. Capital, Entrepreneurship, Land and Labor or C.E.LL

This question is about the circular flow model in economics. The circular flow model is a simplified representation of the economy that shows the flow of money and goods among households and businesses. <br /><br />1. The circular flow model has two main markets: the product market and the factor market. <br /><br />2. The product market is where goods and services are sold. <br /><br />3. Goods and services are produced by businesses or firms. <br /><br />4. Goods and services are sold to households or individuals. <br /><br />5. Households provide labor and resources to businesses. <br /><br />6. In exchange for their labor or resources, businesses provide households with money, paychecks, salaries, or rent. <br /><br />7. The factor market is made up of four main concepts: capital, entrepreneurship, land, and labor (C.E.L.L). <br /><br />8. The resources in the factor market come from households or individuals. <br /><br />9. Households provide businesses with labor and resources in the factor market. <br /><br />10. Businesses provide households with goods and services in the product market.