Box B on the circular flow model represents the product markets, where households purchase goods and services from firms, and the money spent becomes revenue for these firms.
The part of the economy represented by box B on the circular flow model is the product markets. In the circular flow model, households pay money for goods and services which becomes the revenue for businesses or firms. This interaction showcases the relationship where firms offer goods and services and households are the consumers of those goods and services. Arrow "A" shows firms producing and selling to households, while arrow "B" represents the flow of money as households pay for these goods and services. The circular flow model thus illustrates the continuous movement of money, resources, and goods between producers and consumers.
The part of the economy represented by box B on the circular flow model is product markets. Product markets refer to the places where goods and services are bought and sold between businesses and households. In this context, businesses produce and sell goods and services to households, and households buy these goods and services from businesses.