In the circular flow diagram, firms receive revenue from product markets. When consumers purchase goods and services, the money spent by consumers flows to firms as revenue. Therefore, the correct response is:
revenue
Economics Semester Exam
7 of 317 of 31 Items
Question
In the circular flow diagram, what do firms receive from product markets?(1 point)
Responses
revenue
revenue
goods and services
goods and services
factors of production
factors of production
money/costs
1 answer