Question
In the circular flow diagram, what do households provide to factor markets?
• goods and services
O land, labor, and capital
• income
• revenue
• goods and services
O land, labor, and capital
• income
• revenue
Answers
GPT 3.5
The correct answer is "land, labor, and capital." Households provide the factors of production, such as land, labor, and capital, to the factor markets in the circular flow diagram. This means that households supply the resources needed for the production of goods and services.