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Principles of Macroeconomics

Trace through the circular flow model in Chapter 6. What is the point of the circular flow model, what are some leakages and injections into the circular flow model, and how are the leakages and injections related to the circular flow?

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Retselisitsoe Pokothoane
Retselisitsoe PokothoaneLv10
28 Sep 2019
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Related questions

Answer the following questions:

(1) Which two sectors of the economy are represented in the circular flow model? Which two markets are shown in the circular flow model?

(2) The circular flow model includes two circles and those circles flow in opposite directions. What do those circles represent?

Outline the flow of goods and resources to and from economic decision makers One way to understand how the economy works is the circular flow model. This model demonstrates the flow of resources, goods, services, and income between households and business through the resource market and the market for goods and services. In a few paragraphs, please:

1) Describe how money and resources are exchanged in the resource market, indicating Who gets the resource Who gets the income (175 words)

Refer to the Circular Flow model resources provided below:

The Circular Flow Diagram;http://econperspectives.blogspot.com/2008/04/circular-flow-diagram.html

Circular Flow of Economic Activity: The Flow of Goods, Services & Resources

http://study.com/academy/lesson/circular-flow-of-economic-activity-the-flow-of-goods-services-resources.html

Outline the flow of goods and resources to and from economic decision-makers:

One way to understand how the economy works is the circular flow model. This model demonstrates the flow of resources, goods, services, and income between households and businesses through the resource market and the market for goods and services. In a few paragraphs, please:

1) Identify the primary economic decision-makers.

2) Describe how money and resources are exchanged in the resource market, indicating

3) Who gets the resource

4) Who gets the income

5) Describe how money, goods, and services are exchanged in the product and services market, indicating

6) Who receives the goods and services

7) Who gets the income

8) give a brief description of any other participants in an economy that are not represented in this simple model

Refer to the Circular Flow model resources provided below:

The Circular Flow Diagram; http://econperspectives.blogspot.com/2008/04/circular-flow-diagram.html

Circular Flow of Economic Activity: The Flow of Goods, Services & Resources

http://study.com/academy/lesson/circular-flow-of-economic-activity-the-flow-of-goods-services-resources.html

Resource Market: Definition & Overview; http://study.com/academy/lesson/resource-market-definition-lesson-quiz.html

In addition, it should be written well using correct grammar, and references need to be properly APA formatted

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