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In the circular-flow diagram,firms receive money for _____ in the _____ market.
Cost of Goods Sold
The direct costs attributable to the production of goods sold by a company, including materials, labor, and overhead costs.
Direct Materials
Raw materials that are directly traceable to the production of specific goods or services.
Raw Materials
Basic materials that are used in the manufacturing process to produce goods or finished products.
Product Costs
The costs directly associated with the creation of a product, including direct materials, direct labor, and manufacturing overhead.
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