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Course Learning Objective 2:  Outline the flow of goods and resources to and fro

Course Learning Objective 2:  Outline the flow of goods and resources to and from economic decision makers One way to understand how the economy works is the circular flow model.  This model demonstrates the flow of resources, goods, services, and income between households and business through the resource market and the market for goods and services. In a few paragraphs, please:   Identify and describe the primary economic decision makers. Describe how money and resources are exchanged in the resource market, indicating ·         Who gets the resource ·         Who gets the income Describe how money, goods, and services are exchanged in the product and services market, indicating ·         Who receives the goods and services ·         Who gets the income In addition, give a brief description of any other participants in an economy that are not represented in this simple model (don’t forget to address this requirement. Refer to our textbook regarding economic decision makers; who is not represented in the circular flow model? What roles do these participants play in the flow of resources?)

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