Examlex
If Earth's surface was homogeneous (either all land or all water) , ____.
Factor Market
A marketplace where factors of production (e.g., labor, capital, land) are bought and sold.
Circular-Flow Diagram
A visual model of the economy that shows the flow of money, goods and services, and factors of production between households and businesses.
Firms
Businesses or companies that produce goods or provide services with the aim of making a profit.
Resources
Assets and inputs used to produce goods and services, such as time, labor, capital, and natural resources.
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