ECON 252 Circular Flow Diagram

ECON 252 Circular Flow Diagram - Goods and Services Bought...

Info iconThis preview shows page 1. Sign up to view the full content.

View Full Document Right Arrow Icon
ECON 252 Circular Flow Diagram Circular flow diagram = a visual model of the economy shows how dollars flow through markets among households and firms Markets for Good and Services Markets for Factors of Production Firms Households
Background image of page 1
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: Goods and Services Bought Goods and Services Sold Land, Labor, and Capital Factors of Production Spending Revenue Income Wages, Rent, and Profit Red Arrows = flows of income and payment Green Arrows = flows of goods and services...
View Full Document

This note was uploaded on 12/10/2011 for the course ECON 252 taught by Professor Robertholand during the Fall '08 term at Purdue University-West Lafayette.

Ask a homework question - tutors are online