The circular flow model is a crucial component of economics that shows how firms and households depend on each other to keep theeconomy healthy.
1. Describe the type of exchanges that are made between firms and households in the
product market. Then, to illustrate your description, provide a specific example of an
exchange that might occur between a firm and a household in the product market. (1
point for the description, 1 point for the example)
2. Describe the type of exchanges that are made between firms and households in the
factor market. Then, to illustrate your description, provide a specific example of an
exchange that might occur between a firm and a household in the factor market (1 point
for the description, 1 point for the example)

the united states has a federal government. the president is the head of the federal government of the united states. however, each state forms its government for administration purposes. the powers of the state governments are exercised within restricted state boundaries. and citizens participate in this government by voting.

answer; grew into towns and cities;

compose an essay that argues which health care system is better in terms of economics. analyze the reasons for your determination by covering these points:

-scarcity and allocation of resources -incentives -role of the government -how prices are determined -benefits and drawbacks for consumers in the uk and us -benefits and drawbacks for producers in the uk and the us

be sure to include specific reference to sources and a counterargument. your essay should include an introduction, transitions, and a conclusion.