Product Market in the Circular Flow of Goods

07 Jul 2023

What role does the supermarket take on in the circular flow of goods?

A. Business market
B. Household market
C. Resource market
D. Product market

Answer:

D. Product market

Explanation:

In economics, the product marketplace is the market in which final items or services are sold to groups and the general public sector. Focusing on the sale of completed items, it does not include buying and selling in raw or other intermediate materials.

The supermarket in the passage is part of the product market in the circular flow of goods. Option D is the correct statement.

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What role does the supermarket take on in the circular flow of goods?

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