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  • Circular Flow

    Diunggah oleh

    Mr. Powers
    94 tayangan2 halaman
    The student will describe how households, businesses, and governments are interdependent and interact through flows of goods, services, and money. A. Illustrate by means of a circular flow diagram, the product market; the Resource (factor) market; and the real flow of goods and services between and among businesses, households, and government. B. Explain the role of money as a medium of exchange and how it facilitates exchange.

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    The student will describe how households, businesses, and governments are interdependent and interact through flows of goods, services, and money. A. Illustrate by means of a circular flow diagram, the product market; the Resource (factor) market; and the real flow of goods and services between and among businesses, households, and government. B. Explain the role of money as a medium of exchange and how it facilitates exchange.

    Hak Cipta:

    Attribution Non-Commercial (BY-NC)
    Unduh sebagai DOC, PDF, TXT atau baca online dari Scribd
    Tandai sebagai konten tidak pantas
    94 tayangan2 halaman

    Circular Flow

    Diunggah oleh

    Mr. Powers
    The student will describe how households, businesses, and governments are interdependent and interact through flows of goods, services, and money. A. Illustrate by means of a circular flow diagram, the product market; the Resource (factor) market; and the real flow of goods and services between and among businesses, households, and government. B. Explain the role of money as a medium of exchange and how it facilitates exchange.

    Hak Cipta:

    Attribution Non-Commercial (BY-NC)
    Unduh sebagai DOC, PDF, TXT atau baca online dari Scribd
    Tandai sebagai konten tidak pantas
    dari 2

    ECONOMICS

    Chapter 2 - The Circular Flow Model - Key

    Standard: SSEMI1 - The student will describe how households, businesses, and governments are interdependent and interact through flows of goods, services, and money. a. Illustrate by means of a circular flow diagram, the Product market; the Resource (factor) market; the real flow of goods and services between and among businesses, households, and government; and the flow of money.
    b. Explain the role of money as a medium of exchange and how it facilitates exchange.

    household - a person or group of people living in the same residence firm - an organization that uses resources to produce a product, which it then sells factor market - where firms purchase the factors of production from households factor payments - the income people receive for supplying factors of production land rent labor wages/ salary capital interest entrepreneurship profit product market - where households purchase the goods & services that firms produce

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