a) Circular flow of income

0.0(0)
Studied by 0 people
linked notesNote
call kaiCall Kai
learnLearn
examPractice Test
spaced repetitionSpaced Repetition
heart puzzleMatch
flashcardsFlashcards
GameKnowt Play
Card Sorting

1/3

encourage image

There's no tags or description

Looks like no tags are added yet.

Last updated 12:17 PM on 10/3/26
Name
Mastery
Learn
Test
Matching
Spaced
Call with Kai
Chat

No analytics yet

Send a link to your students to track their progress

4 Terms

1
New cards

  • circular flow of income


  • the directions of money flow between households and firms in an economy


<ul><li><p>the directions of money flow between households and firms in an economy</p></li></ul><p></p>
2
New cards

  • explain the circular flow of income


  • households own the factors or production

    • they supply land, labour, capital, and enterprise to firms

    • they receive rent for land, wages for labour, interest for capital, and profit for enterprise

    firms purchase the factors of production

    • they produce and supply goods/services to households

    • they receive revenue from household expenditure on these goods/services


3
New cards

  • n/a


  • n/a


4
New cards

  • n/a


  • n/a