Question

circular flow of income class 12​

Answer 1

Answer:

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Explanation:

Meaning of Circular Flow Of Income: It refers to the cycle of generation of income in the production process, its distribution among the factor of production and finally, its circulation from households to firms in the form of consumption expenditure on goods and services produced by them.

Meaning: It is the flow of goods and services between households and firms

Difficulty in Exchange: These may be the difficulty of the Barter system in exchange of ...

Kind of Exchange: It involves the exchange of goods and services

BASIS: REAL FLOW