Westonci.ca is the Q&A platform that connects you with experts who provide accurate and detailed answers. Discover reliable solutions to your questions from a wide network of experts on our comprehensive Q&A platform. Get precise and detailed answers to your questions from a knowledgeable community of experts on our Q&A platform.
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 visit. Our platform is always here to offer accurate and reliable answers. Return anytime. We appreciate your time. Please come back anytime for the latest information and answers to your questions. Westonci.ca is here to provide the answers you seek. Return often for more expert solutions.
