CIRCULAR FLOW MODEL FREE

People in households work for firms (selling their factor services) and receive wages in exchange.

CIRCULAR FLOW MODEL FREE

These flows are part of the fundamental process of satisfying human wants.Īs we have already seen, a free market economy consists of two components, or sectors, as they are called. The circular flow of income is a way of representing the flows of money between the two main groups in society - producers (firms) and consumers (households). Section 3.6 Distribution of income - questions.Section 3.6 Distribution of income - notes.Section 3.5 Unemployment and inflation - simulations and activities.

Section 3.5 Unemployment and inflation - in the news.

Section 3.5 Unemployment and inflation - questions.

Section 3.5 Unemployment and inflation - notes.

Section 3.4 Demand-side and supply-side policies - in the news.

Section 3.4 Demand-side and supply-side policies - questions.

Section 3.4 Demand-side and supply-side policies - notes.

Section 3.3 Macroeconomic models - simulations and activities.

Section 3.3 Macroeconomic models - questions.

Section 3.3 Macroeconomic models - notes.

Section 3.2 An introduction to development - in the news.

Section 3.2 An introduction to development - questions.

Section 3.1 Introduction to development - notes.

Section 3.1 Measuring national income - questions.

Section 3.1 Measuring national income - notes.

Topic pack - Macroeconomics - introduction.

Circular flow model