Write the meaning of all three phases of circular flow?
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Answered by
46
Heya....
See here for your answer....
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Circular flow is the continuously holding flow of all goods and services in the economy , it refers to the cycle or generation of income in the production process and the expenditure done by others...
Three phases of circular flow are...
• General phase
In this firm produce goods and services by various factors of production..
• Distribution phase
This involve flow of income from firms to household means the payment of factors of production..
• Disposition phase
The income received by factors of production , by selling them.
Thank you
See here for your answer....
================
Circular flow is the continuously holding flow of all goods and services in the economy , it refers to the cycle or generation of income in the production process and the expenditure done by others...
Three phases of circular flow are...
• General phase
In this firm produce goods and services by various factors of production..
• Distribution phase
This involve flow of income from firms to household means the payment of factors of production..
• Disposition phase
The income received by factors of production , by selling them.
Thank you
Answered by
48
❤️HEY MATE ❤️
Circular Flow of income refers to the continuous circular production, income generation and expenditure. There are three phases of circular flow. They are:
⭐PRODUCTION PHASE:in this phase firms produce goods and service with the help of factor services.
⭐INCOME PHASE:this phase involves the flow of income from firms to households.
⭐EXPENDITURE PHASE :the income received by factors of production is spent on goods and services produced by firms.
______,⚡I HOPE IT HELPS YOU ⚡________
Circular Flow of income refers to the continuous circular production, income generation and expenditure. There are three phases of circular flow. They are:
⭐PRODUCTION PHASE:in this phase firms produce goods and service with the help of factor services.
⭐INCOME PHASE:this phase involves the flow of income from firms to households.
⭐EXPENDITURE PHASE :the income received by factors of production is spent on goods and services produced by firms.
______,⚡I HOPE IT HELPS YOU ⚡________
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