CIRCULAR FLOW

This is the market for all factors of production.

• Factors Market

• Inputs for Production

• Government

• Goods and Services Market

This is the Government's primary source of income.

• Profit

• Goods and services

• Market

• Taxes

This is the primary concern of the Households.

• Market

• Goods and Services

• Profit

• Utility

This is the primary output of Firms and the primary input of Households.

• Factors of Production

• Inputs for Production

• Goods and Services

• Taxes

This is the primary output of Households and the primary input of Firms.

• Factors of Production

• Inputs for Production

• Goods and Services

• Taxes

This is the sector of the economy which consumes factors of production and provides goods and services.

• Firms

• Government

• Households

• Market

This is the sector of the economy which consumes goods and services and provides factors of production.

• Firms

• Government

• Households

• Market

This is the sector of the economy that provides a healthy environment for the economy to function.

• Firms

• Government

• Households

• Market

In this market, businesses buy the resources they need to produce goods and services.

• Goods and Services Market

• Factors Market

• Businesses

• Wet Market

Which of the following is NOT a factor of production?

• Capital

• Land

• Labor

• Rent