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The simple circular-flow diagram is a model that includes only some key players in the real economy.Which of the following key players are omitted from the simple circular-flow model?
Cost
An amount that must be paid or spent to buy or obtain something, often related to the production or purchase of goods and services.
Merchandise
Merchandise refers to goods or products that are purchased, stored, and sold by businesses to generate revenue.
Net Purchases
The total amount of purchases made by a company after subtracting returns, allowances, and discounts.
Merchandise Available
The total goods available for sale during a certain period, including both beginning inventory and purchases made.
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