Explain the circular flow between the household sector, firms sector, financial market, government sector, and foreign sector. [Hint: Foreign sector receives revenues from firms, households, and governments for exports of goods and services. The foreign sector also makes payments for imports of goods and services from firms and the government. It also makes payments for the factor services to the household
Explain the circular flow between the household sector, firms sector, financial market, government sector, and foreign sector. [Hint: Foreign sector receives revenues from firms, households, and governments for exports of goods and services. The foreign sector also makes payments for imports of goods and services from firms and the government. It also makes payments for the factor services to the household
Chapter1: Making Economics Decisions
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Explain the circular flow between the household sector, firms sector, financial market, government sector, and foreign sector.
[Hint: Foreign sector receives revenues from firms, households, and governments for exports of goods and services. The foreign sector also makes payments for imports of goods and services from firms and the government. It also makes payments for the factor services to the household
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