The interaction of individuals and firms in a market can be
described as a
of money, goods and services
and resources through product and factor markets.
Constant
flow
Stable
flow
Circular
Flow
Regular
Flow
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The interaction of individuals and firms in a market can be described as a of money, goods and services and resources through product and factor markets. It is circular flow.
Interaction of individuals and firms is a circular flow because individual buy products through product markets and pay the firms.
And, through factor markets individual supply labor to the firms and in return firms pay them the wages. Therefore, it is a circular flow.
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