Economy, asked by tiwarichanda985, 11 months ago

What is circular flow income?
Please give answer in ur own words.
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Answers

Answered by 1259442

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Answer:

Explanation:

The circular flow of income is a neoclassical economic model depicting how money flows through the economy. In its simplest version, the economy is modeled as consisting only of households and firms. Money flows to workers in the form of wages and money flows back to firms in exchange for products. In short, an economy is made up of countless circular flows of income (or money)

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