Product Market in the Circular Flow of Goods
What role does the supermarket take on in the circular flow of goods?
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.