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Steel Beam Inc. is looking to purchase a new steel-processing machine and factory. In the circular flow diagram, this transaction will take place in the Forelgn Exchange market Resource market Public market Product market.

Question

Steel Beam Inc. is looking to purchase a new steel-processing machine and factory.
In the circular flow diagram, this transaction will take place in the
Forelgn Exchange
market
Resource market
Public market
Product market.

Steel Beam Inc. is looking to purchase a new steel-processing machine and factory. In the circular flow diagram, this transaction will take place in the Forelgn Exchange market Resource market Public market Product market.

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FranklinElite · Tutor for 8 years

Answer

Resource market

Explain

In the circular flow diagram, transactions involving the purchase of machinery and factories, which are considered capital goods, occur in the resource market. The resource market is where businesses acquire the factors of production, such as labor, land, and capital, needed to produce goods and services.
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