Which two groups of decision makers are included in the simple circular-flow diagram?
A)markets and government
B)households and government
C)firms and government
D)households and firms

Question

Quizplus · Accepted Answer

The simple circular-flow diagram includes two groups of decision makers - households and firms. Households provide labor and consume goods and services produced by firms, while firms provide goods and services and hire labor from households. The diagram does not explicitly include markets or government as decision makers.

Which Two Groups of Decision Makers Are Included in the Simple