Difference between revisions of "Circular flow diagram"
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==Definitions== | ==Definitions== | ||
| − | According to [[Principles of Economics by Timothy Taylor (3rd edition)]] | + | According to [[Principles of Economics by Timothy Taylor (3rd edition)]], |
| − | + | :[[Circular flow diagram]]. A diagram that illustrates the [[economy]] as consisting of households and firms interacting in a goods and services market, a labor market, and a financial capital market. | |
| − | + | [[Category: Economics]][[Category: Articles]] | |
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Latest revision as of 20:11, 30 May 2020
Circular flow diagram is a diagram that illustrates the economy as consisting of households and firms interacting in a goods and services market, a labor market, and a financial capital market.
Definitions
According to Principles of Economics by Timothy Taylor (3rd edition),
- Circular flow diagram. A diagram that illustrates the economy as consisting of households and firms interacting in a goods and services market, a labor market, and a financial capital market.
