Westonci.ca is the best place to get answers to your questions, provided by a community of experienced and knowledgeable experts. Our Q&A platform offers a seamless experience for finding reliable answers from experts in various disciplines. Our platform provides a seamless experience for finding reliable answers from a network of experienced professionals.
Sagot :
From firms to households profits flow between these two sectors in the circular flow model.
What is the 2 sector circular flow model ?
An economic model called the circular flow model demonstrates how resources such as money, goods, and services travel through different economic sectors. The model is sometimes referred to as the circular flow of income because the money flows between the sectors are also tracked to calculate a nation's national income or GDP.
For a clearer overview of the economy as a whole and, for example, the National Income and Product Accounts, analyze the circular flow of income (NIPAs). In its simplest form, it takes into account a simple economy made up only of firms and individuals, and it can be illustrated using a "circular flow diagram." Individuals supply the labor necessary for businesses to generate commodities and services in this straightforward economy.
To learn more about the circular flow model check the link below : https://brainly.com/question/24734898
#SPJ4
We appreciate your time. Please revisit us for more reliable answers to any questions you may have. Thank you for your visit. We're committed to providing you with the best information available. Return anytime for more. Get the answers you need at Westonci.ca. Stay informed with our latest expert advice.
