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What is a circular flow model?

What is a circular flow model?

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What is a circular flow model?

What is a circular flow model?

Answer

The circular flow of income (or business) is the exchange of money between a consumer and a producer.
The producer offers some good or service because there is a need/want for it.
The consumer, needing/wanting such a good or service, will pay money.
There is a constant flow between the producer and consumer.

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Virtual Teaching Assistant: Colleen R.
Question Level: Basic
Karma: Free
Upload Date: 5/31/2017

This 12 words question was answered by Colleen R. on StudySoup on 5/31/2017. The question contains content related to Business Since its upload, it has received 134 views.

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