the simple circular flow model shows that households?Advertisement
In economics, the terms circular flow of income or circular flow refer to a simple economic model which describes the reciprocal circulation of income between producers and consumers. - read more
Economic Model #1: The Circular-Flow Diagram One model that helps explain how a market economy works is a circular-flow diagram. A circular-flow diagram is a visual model of the economy that illustrates how households and businesses interact through markets for products and markets ... - read more
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