In its simplified form, the circular flow of income concept refers to the?

a

real flow in goods and services between the product and factor markets

b

monetary payment for goods and services produced by individual firms

c

transactions in goods and services and payment for such transactions between individual firms and households.

d

money flows associated with transactions between individual firms and households

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c

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Brainpill
10 years ago

C is the right answer but the option(answer) is not complete.

It's supposed 2 be...(C)Transactions in goods and services and payments for such transactions between individual firms and households.

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