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Circular Flow Model of the Economy

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Vickie
Published on 2021-06-29
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Here is an example of a basic model that shows the double-way flow of household incomes to goods and services markets to purchase certain products. There are two types of markets, markets for goods and services and markets for factors of production. The money flows from households to firms through the goods and services markets, and in the same way, a finished product is reaching the household through the market. It shows the relation between a buyer and a seller.
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Circular Flow Diagra
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