Question

A common economic model that reveals a relationship between two types of groups interacting in marketing in an economy is called

Answer 1

Answer;

-Circular flows diagram

Step-by-step explanation;

-The circular-flow diagram (or circular-flow model) is a graphical representation of the flows of goods and money between two distinct parts of the economy; market for goods and services, where households purchase goods and services from firms in exchange for money and market for factors of production (such as labor or capital), where firms purchase factors of production from households in exchange for money.

The market for goods and services is the place where households spend their money buying goods and services produced by firms.