The simple circular flow model shows that workers and capital-owners offer their services to firms through the?

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07-09-2022
Business

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The simple circular flow model shows that workers and capital-owners offer their services to firms through the?

Sagot :

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okpalawalter8 okpalawalter8 · Answer 1 · 2022-09-14T10:01:16-04:00

The simple circular flow model shows that workers and capital-owners offer their services to firms through the resource markets.

This is further explained below.

What are resource markets.?

Generally, Sociologists and others involved in public policy often make use of the phrase "cultural change" to refer to how society evolves through time.

Because of this, society develops new cultural characteristics, patterns of behavior, and social norms, which in turn leads to the formation of new social structures.

In conclusion, The simple circular flow model illustrates how employees and owners of the capital provide their services to businesses by way of resource marketplaces.

Sagot :

What are resource markets.?

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