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The circular flow of economic activity shows the interdependency of firm and household decision making.TrueFalse TRUE
Cached - SimilarYou +1'd this publicly. UndoIn economics, the terms circular flow of income or circular flow refer to a simple economic model which describes the reciprocal circulation of income
It doesn't. The economy will remain stagnent.
False
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The circular flow of economic activity shows the interdependency of firm and household decision making.TrueFalse TRUE
Cached - SimilarYou +1'd this publicly. UndoIn economics, the terms circular flow of income or circular flow refer to a simple economic model which describes the reciprocal circulation of income
It doesn't. The economy will remain stagnent.
False
Economic activity refers to all transaction between individuals/groups and countries make as well as investments/savings and consumption of those transactions. Therefore, there are literally billions of economic activity going on around the world. If you buy a cabbage in the supermarket, that's an economic activity If you put your money into a bank, that's an economic activity
The market is the mechanism that brings together households and firms.
The circular flow of economic activity is a model showing the basic economic relationships within a market economy.
capitalism
capitalism
Economic Activity usually means any activity in business that can be measures or monetized and relates to one of the key functions of buying or selling or exchanging between individuals
Economic activity is defined as actions that involve the production, distribution and consumption of goods and services at all levels within a society. So begging might not be defined as an economic activity, since it does not really affect all levels of society. It's too minute to make a large impact.