Circular Flow Model One way to understand how the economy works is the circular flow model.
Identify & Explain: Circular Flow Model Evaluation Title: Circular Flow Model 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.
Circular Flow Model Open Stax, 2017
For this assignment please address the following in a written essay (Microsoft Word document) concerning the circular flow model: Identify the primary economic decision makers.
Describe how money and resources are exchanged in the resource market, indicating: Who gets the resources?
Who gets the income?
Describe how money, goods, and services are exchanged in the product and services market, indicating:
Who receives the goods and services?
Who gets the income?
In addition, give a brief description of any other participants in an economy that are not represented in this simple model.
For this assignment please create your response in a written essay. Make sure to use well-developed paragraphs to fully explore and explain your opinions and ideas.
Your essay should include a minimum of 500 words.
Answer preview to Circular Flow Model One way to understand how the economy works is the circular flow model.
APA
713 words
Get instant access to the full solution from yourhomeworksolutions by clicking the purchase button below
