Problem
1. Distinguish between the resource market and the 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?
2. LAST WORD What explains why millions of economic resources tend to get arranged logically and productively rather than haphazardly and unproductively?
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.