The multiplier and circular flow

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5 Terms

1
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Real flows

Factor services flow from households to the government (factor market).

Public goods and services flow directly from the government to households. 

2
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Money flows

  • Income flows to households when the government spends on factor services (factor market).

  • Income flows directly to the government when households pay their taxes. 

3
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Financial institutions examples

insurance companies

The Johannesburg Stock Exchange

South African Reserve Bank

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Financial institutions role

act as intermediaries in financial markets by linking borrowers and savers.

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Market equilibruim equation

I + G + X = S + T + M