What model explains the nature of economic transactions in terms of a flow of resources from businesses to households and back again?

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asked Sep 8, 2021 232k views

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Olatokunbo · Answer 1 · 2021-09-15T07:53:20+0000

Answer:

The answer to this question is Circular flow model

Step-by-step explanation:

A circular flow model is a model that shows the flow of income in the economy. It shows how income flow from business to household and how household return this money back to businesses in the terms of buying goods and services. It consists of components which includes households, Businesses, government

What model explains the nature of economic transactions in terms of a flow of resources from businesses to households and back again?

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