Flashcards in The Circular Flow of Income Deck (11):
what is the circular flow of income?
a graph depicting the flow of money.
what money is taken from households to government?
what money is taken from government to a household?
what money is taken from government to firms?
what money is taken from firms to government?
what money goes from households to firms?
goods and services
what money goes from firms to households?
what is the name of money that leaves the cycle?
give an example of a leakage.
what is the name of money that enters the circle?