English, asked by morepisal0003, 5 months ago

explain the 2 sector model in circular flow of income ?

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Answered by vaishnavithorave

2

Answer:

In the basic two-sector circular flow of income model, the economy consists of two sectors: (1) households and (2) firms. ... The firms then spend all of this income on factors of production such as labor, capital and raw materials, "transferring" all of their income to the factor owners (which are households).

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