Question
on a circular flow diagram:
If you buy a pair of shoes, does the purchase directly contribute to the arrows of
a) spending and revenue OR
b) spending and revenue AND goods and services bought and sold
#2 After working a week at a nail salon, you get your first paycheck. This activity contributes directly to the arrows of:
a)factors of production, land, labor and capital OR
b) factors of production, land, labor and capitor AND wages, rent, profit, and income
Thank you for your help.
If you buy a pair of shoes, does the purchase directly contribute to the arrows of
a) spending and revenue OR
b) spending and revenue AND goods and services bought and sold
#2 After working a week at a nail salon, you get your first paycheck. This activity contributes directly to the arrows of:
a)factors of production, land, labor and capital OR
b) factors of production, land, labor and capitor AND wages, rent, profit, and income
Thank you for your help.