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The document shows a circular flow diagram illustrating the flows between markets for goods and services and markets for factors of production. Firms like Del Monte Philippines sell goods and services to households and buy factors of production like labor from households. Households then use income from selling factors of production to buy goods and services from firms, completing the circular flow between the two markets.

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Raymund Gatoc
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59 views1 page

Assign

The document shows a circular flow diagram illustrating the flows between markets for goods and services and markets for factors of production. Firms like Del Monte Philippines sell goods and services to households and buy factors of production like labor from households. Households then use income from selling factors of production to buy goods and services from firms, completing the circular flow between the two markets.

Uploaded by

Raymund Gatoc
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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Circular

Circular
Revenue Spending
Flow
FlowMARKETS FOR GOODS AND
SERVICES
Goods and
Diagram
Services sold
DiagramMALLS, LIKE GAISANO, SM
SUPERMARMARKETS AND
Goods and
Services bought
GROCERY STORE or SARI_SARI
STORES

HOUSEHOLDS
FIRMS
 Sells factors of production like
DEL MONTE PHILIPPINES labor
 Buy products of Del Monte
from the stores

Factors of Land, labor,


Production capital
MARKETS FOR FACTORS OF
PRODUCTION

PINEAPPLE FARMS

Wages, rent, profit Income

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