PLEASE HELP WILL GIVE BARINLIEST!!!!!!!!
In a circular flow diagram, labor and other factors of production are sold in resource markets. These resources are then used to produce goods and services sold in product markets. How are businesses involved in this flow?
Question 1 options:
Businesses sell goods and services in product markets.
In product markets, businesses sell factors of production.
Businesses purchase goods and services in product markets.
In resource markets, individuals buy factors of production.