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

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