Question

circular flow diagrams quick check
in the circular flow diagram, what do households provide to factor markets? (1 point)
○ revenue
○ income
○ goods and services
○ land, labor, and capital

Explanation:

In the circular flow model, factor markets are where factors of production are exchanged. Households own the factors of production (land, labor, capital) and supply these to firms in factor markets, while firms provide income to households in return. Revenue is what firms earn from product markets, income is what households receive from factor markets, and goods/services are provided by firms in product markets.

Answer:

land, labor, and capital