identify one primary economic participant in the domestic circular flow of income and spending
Answers
The Circular flow of income and Spending
The circular flow of income and Spending is a framework used by economists to show how money flows among the different sectors of the economy.
- Mainly money flows between the firms and the household.
- The circular flow of income helps to calculate the national income or Gross Domestic Product.
Domestic circular flow of income and Spending
It denotes the flow of income within the country and includes household, firms, and the government.
The primary economic participants in the domestic circular flow of income and Spending are
1. Household,
2. Firms, and
3. The government.
Hope this helps.
The Circular flow of income and Spending
The circular flow of income and Spending is a framework used by economists to show how money flows among the different sectors of the economy.
- Mainly money flows between the firms and the household.
- The circular flow of income helps to calculate the national income or Gross Domestic Product.
Domestic circular flow of income and Spending
It denotes the flow of income within the country and includes household, firms, and the government.
The primary economic participants in the domestic circular flow of income and Spending are
1. Household,
2. Firms, and
3. The government