Microeconomics: Circular Flow Model

What does the government provide businesses and households?

Households demand what from businesses in the product market?

Businesses demand _____ and supply ________ Households demand _____ and supply ________.

Who do households purchase goods and services from?

What 3 things flow between businesses and households in a mixed economy?

I earn income from the state, use my $ to buy goods/services from firms, & pay taxes. This is?

What do both businesses and households pay the government?

Who are the 3 major actors of economic activity in a mixed economy?

Businesses demand factors of production from households in which market?

Households, firms, & governments depend on each other for the economy to function. This is?