Figure 2-2
-Refer to Figure 2-2. What do boxes C and D represent?
A) households and firms
B) the goods and services market and the factors of production market
C) the goods and services market and the financial market
D) government and foreign trade

Question

Figure 2-2 
-Refer to Figure 2-2. What do boxes C and D represent?
A) households and firms 
B) the goods and services market and the factors of production market 
C) the goods and services market and the financial market 
D) government and foreign trade

Quizplus · Accepted Answer

In economic models, box C typically represents the goods and services market, where goods and services are bought and sold, and box D represents the factors of production market, where resources like labor, capital, and land are traded.

Figure 2-2 -Refer to Figure 2-2. What Do Boxes C and D