Elucidate how much in revenues do businesses receive in the, Ask an Expert

Economics

Q. Let's put dollar amounts on the flows in the circular flow diagram of

a. Assume that businesses buy a total of $100 billion of the four resources (labor, land, capital also entrepreneurial ability) from households. If households receive $60 billion in wages, $10 billion in rent also $20 billion in interest, Elucidate how much are households paid for providing entrepreneurial ability?

b. If households spend $55 billion on goods also $45 billion on services, Elucidate how much in revenues do businesses receive in the product marketplace?

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M9170935

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