Question 16 of 25 A startup company produces luxury furniture. It purchases wood from a local lumber mill and turns the wood into tables, chairs, and desks. Once the furniture is finished, trucks take it to a local mall where it is sold at a specialty store. Customers come from all over the state to buy new pieces of furniture that arrive each month. Which element of the story represents a product market in the circular flow model? O A. The furniture company B. The customers who shop at the mall C. The specialty store in the mall O D. The lumber mill

This is because the entire circular flow model of the product market is based on the lumber mill. The startup company is able to produce luxury furniture, after purchasing wood from local lumber mill. Then only different furniture items are made and sold.

What is Lumber mill?

Lumber Mill are used to produce Lumber and Oak Barrels from Wood and Oak Wood. Also known as sawmill, it is a facility where logs are cut into lumber. Modern saw mills use a motorized saw to cut logs lengthwise to make long pieces, and crosswise to length depending on standard or custom sizes.

Thus, the element of the story which represents a product market in the circular flow model is "The lumber mill".

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