Cions Access Tips Cess Tips 1 The Economy S Income And Expenditure The Following Diagram Presents A Circular Flow Model 1 (31.03 KiB) Viewed 30 times
Cions Access Tips Cess Tips 1 The Economy S Income And Expenditure The Following Diagram Presents A Circular Flow Model 2 (23.13 KiB) Viewed 30 times
cions access Tips cess Tips 1. The economy's income and expenditure The following diagram presents a circular-flow model of a simple economy. The outer set of arrows (shown in green) shows the flow of dollars, and the inner set of arrows (shown in red) shows the corresponding flow of inputs and outputs Markets for Goods and Services Firma Households Markets for Factors of Production Based on this model, households earn income when firms purchase labor and capital in markets for factors of production Suppose Lucia earns $825 per week working as a jewelry appraiser for Classy's Jewelry Store. She uses $10 to have breakfast at Dinah's Diner Dinah's Diner pays Kenji $325 per week to work as a short-order cook. Kenji uses $125 to purchase a necklace from Classy's Jewelry Store. A-Z e B B
OD Courses Catalog and Stulty Tools Rental Options College Success Ti Career Success Tip Give Feedback mars for sof 25 perwakings D's £325 pro Cy's hat der kan £125 para recomany's Seat Market for Factors of Event 25 pret wing for Clay's Jerr pends 125 purchase a necklace from ' O Stare Lupande 10 to have O of the ments of this sonno represent a few from home to This t www. The breakfast Lucie receives L'ab True or False For the anmy as a whole, expendtures must Ofe Ⓒale Market for Gred and Services . . sinuts, Dec at that See & Con Grad Now 2 لی 1 4 LO
Join a community of subject matter experts. Register for FREE to view solutions, replies, and use search function. Request answer by replying!