Topic 1.1 - Circular Flow of Income (incomplete) Flashcards by James Chadwick

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What is the Role of Households in the Circular Flow of Income

To provide labour
To consume goods

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What is the Role of Firms in the Circular Flow of Income

To provide goods and services
To pay wages and dividends

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Topic 1.1 - Circular Flow of Income (incomplete) Flashcards

(2 cards)