The Market Phenomenon How is the market economic system and the circular flow model linked?
Factor Markets Unit IV. Basic concepts Similar to those of: – supply and demand –And product markets –Same concepts with new application.
MONEY. 3. Money with intrinsic value is called a. local money b. fiat money c. legal money d. bullion money e. commodity money.
THE CIRCULAR FLOW MODEL. Complicating the Model.
Ch. 8: Factor Market. Derive demand §The demand for any factor of production is a derived demand since it is derived from the demand for the product it.
© Pilot Publishing Company Ltd. 2005 Chapter 13 Factor Market.
JEOPARDY! Inflation Labor(No) Jobs… Math! Alex Trabeconomics GDP and the flow of spending and income. 100 200 300 400 500.
Labor and the Factor Market. Factor Market The factor market includes Land, Labor, and Capital. – Land: The space needed to do work, as well as the natural.
