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Can I have some help?

Eitan_Zohar
Posts: 2,697
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3/24/2013 9:30:55 AM
Posted: 3 years ago
I can't imagine how such a simple concept could have been made more obfuscated. Just look at this.

Can someone make the concept here clear?
"It is my ambition to say in ten sentences what others say in a whole book."
Lordknukle
Posts: 12,788
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3/25/2013 1:32:24 PM
Posted: 3 years ago
Literally this:

http://upload.wikimedia.org...

Households give factors of production to firms. Firms give wages (labor), rent (land), interest (capital), and profit (entrepreneurial activity) to households. . This is in the resource (factor) market.

Households give money to firms. Firms give goods and services to households. This is in the product market.
"Easy is the descent to Avernus, for the door to the Underworld lies upon both day and night. But to retrace your steps and return to the breezes above- that's the task, that's the toil."