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From the product market to households.
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∙ 10y ago
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What is circular flow model for an open economy?
it is a flow that shows the flow of money openly
What does the flow money determined in the circular flow model?
The allocation of resources. :P
What happens when leakages are greater than injections?
if leakages are greater than injection the circular flow will be in disequilibrium because more money is leaving the circular flow
What way do businesses and households both supply and demand in the circular flow model?
Households are made up of individuals who both spend money and are the recipients of money. Businesses do the same.
What does gross domestic product measure in circular flow diagram?
flow of money, total income, total expenditure
What is circular flow model for an open economy?
it is a flow that shows the flow of money openly
What does the flow of money determine in the circular flow model?
The allocation of resources. :P
What does the flow money determined in the circular flow model?
The allocation of resources. :P
What is exchanged for money in the circular flow?
goods and services
What is the driving force behind the circular flow of the market economy?
Money
What happens when leakages are greater than injections?
if leakages are greater than injection the circular flow will be in disequilibrium because more money is leaving the circular flow
In what way do businesses and households both supply and demand in circular flow model?
Households are made up of individuals who both spend money and are the recipients of money. Businesses do the same.
What way do businesses and households both supply and demand in the circular flow model?
Households are made up of individuals who both spend money and are the recipients of money. Businesses do the same.
What does gross domestic product measure in circular flow diagram?
flow of money, total income, total expenditure
What are the leakages from the circular flow?
You have leakages from your circular flow.
What is the role for consumers and producers in a free market system?
A circular flow model
In the circular flow of goods and services what does the government use money payment to provide?
Goods and services
