Question

Which of the following is a limitation
of the simple circular flow model?​

Answer 1

Answer:

Circular flow describes how a market economy works. A market economy is one in which individuals influence directly what is produced, marketed, and consumed. Individuals do this by spending money on what they want. This then directs producers to produce goods and services that individuals will consume. The amount of goods and services that are made available is related to the laws of supply and demand.

Explanation:

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