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based on this model, households earn income when purchase in factor markets. Bnb XRP aave Bonk coinbase futures litecoin futures cardano futures

How do households earn income based on the circular-flow model?

Based on this model, households earn income when firms purchase factors in factor markets. Explanation: In the circular-flow model of an economy, households own all the factors of production. Households earn their income when firms purchase or rent these factors of production to use them to produce goods and services.

How do households earn income?

Households earn their income when firms purchase or rent these factors of production to use them to produce goods and services. - Firms, in turn, earn revenue when households buy goods and services markets for factors of production

What is a market for factors of production?

markets for factors of production households are sellers and firms are buyers. households provide the inputs that firms use to produce goods and services markets for goods and services Poornima earns $625 per week working for Flyaway Airlines market for factors of production

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