Answered

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1st attempt
Nicole works as a server at a local restaurant. Applying the circular flow model:
(a) The restaurant where Nicole works represents
(b) The meals that the restaurant sells represent
(c) The labor that Nicole provides to the restaurant represents

Sagot :

GinnyAnswer

Final answer:

An explanation of how Nicole's work at the restaurant fits into the circular flow model.


Explanation:

(a) The restaurant where Nicole works represents: The firms in the circular flow model, as it is where goods and services (meals in this case) are produced and sold.

(b) The meals that the restaurant sells represent: The goods and services produced by firms and exchanged in the product market.

(c) The labor that Nicole provides to the restaurant represents: The flow of labor services from households to firms in exchange for wages, which is a crucial part of the circular flow model.


Learn more about Circular flow model in economics here:

https://brainly.com/question/34821922


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