Distinguish between the resource market and product market
Distinguish between the resource market and product market in the circular flow model. In what way are businesses and households both sellers and buyers in this model? What are the flows in the circular flow model?
Expert
The resource markets are where the owners of the resources (the households) sell their resources to the buyers of the resources (businesses). In the merchandise markets, businesses sell the goods and services they have produced to the buyers of the goods and services, the households. Households (individuals) either own all economic resources directly or own them indirectly through their ownership of business corporations. These households are willing to sell their resources to businesses because attractive prices draw them into specific resource markets. Businesses buy resources because they are necessary for producing goods and services. The interaction of the buyers and sellers establishes the price of each resource.
In the product market, businesses are the sellers and householders are the buyers; their role in the market has been reversed. Each group of economic units both buys and sells. One flow is the flow of real goods and services (including resource services) and the other flow is the flow of money (revenue, money income, production costs, consumption expenditures).
According to the advocates of free trade and World Trade Organization, each and every country potentially advantages from trade liberalization and the lowering of tariffs since each and every country: (1) Has a comparative benefit in something. (2) Ga
Distinguish clearly between a plant, a firm, and an industry?
Explain the markets and prices of the Market System?
What are the 4 phases of the business cycle?
Question: Conduct an analysis on the following topic and prepare an Executive Summary-style report with supporting exhibits (Insightful Graphs, tables etc. from quality expert analyst references used to write the r
Illustrations of opportunity costs which you might or will have incurred would comprise: (i) severe injuries suffered within an accident since you failed to buckle up. (ii) the income you could earn when you were not in school. (iii) time spent studyi
Opportunity Cost:Whenever you select a particular alternative, the next best alternative should be given up. For illustration, when you desire to watch cricket highlights in T.V., you should
Production Possibility Curve: Similar to the individuals, a society as entire has restricted resources. It has to decide what to manufacture with restricted resource
Describe briefly high financial leverage, low operating leverage?
Elucidate the various trade which enacted by governments?
18,76,764
1924222 Asked
3,689
Active Tutors
1427888
Questions Answered
Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!