In the circular flow model, households provide inputs to firms through the and in exchange receive from firms

Purchase of outputs produced by the firm and in exchange receives wages for their labour from the firms.

Explanation:The circular flow of income is the flow of money, goods & services between  economic agents. These economic agents are: the household, Firms and Government.

The Household spend its income on goods & services and also purchase outputs produced by firms and gets its inflow by providing factors of production to the firms.

The Firms spends its income on all factors of production( Labour, Capital, Raw materials) and gets its inflow from the sale of goods & services.

Government consist of the local state and federal whose income flows from the household and firm by way of taxes and flows out by way of grants, subsidies and purchase of goods & services.

whole quiz

1. the sum of all activities involved in getting high-quality products into the marketplace

2.operations

3. the principle of looking at the supply chain as a whole in order to improve the overall flow through the system.

4. produced; performed

5. activities producing tangible products, such as radios, newspapers, buses, and textbooks.

6. activities producing intangible and tangible products, such as entertainment, transportation, and education.

7.   customer focus

8. analyzing a competitor's products to identify desirable improvements

9. the systematic direction and control of the processes that transform resources into finished projects that create value for and provide benefits to consumers.

10. operation management.

your welcome leave a rate and a < 3