A minimum of 680 words (about 170 words for each question) is required. Please ensure you are providing support for your answers and clearly demonstrating a full understanding of the concepts.Outline the flow of goods and resources to and from economic decision makersOne way to understand how the economy works is the circular flow model. This model demonstrates the flow of resources, goods, services, and income between households and business through the resource market and the market for goods and services. In a few paragraphs, please:Identify and describe the primary economic decision makers.Describe how money and resources are exchanged in the resource market, indicatingWho gets the resourceWho gets the incomeDescribe how money, goods, and services are exchanged in the product and services market, indicatingWho receives the goods and servicesWho gets the incomeIn addition, give a brief description of any other participants in an economy that are not represented in this simple model (don’t forget to address this requirement. Refer to our textbook regarding economic decision makers; who is not represented in the circular flow model? What roles do these participants play in the flow of resources?)
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