ls draw the diagram of an Economic System and explain the process of circular flow?

Q: What is the Circular Flow model? What are the main components of the model? What each market in the…

A: Circular flow of income is the process where the creation and flow of the money generated and its…

Q: capital, natural resources, Product market Revenue Products Households Firms Wages, interest, rent.…

A: There are normally 4 sectors in the economy namely household sector, business sector, government…

Q: Identify and describe the four stages of the ‘Economic Cycle’.

A: Economic Cycle is defined as a cycle which refers to the fluctuations in an economy between the…

Q: What are the three main goals of macroeconomics?

A: Macroeconomics The study of how the market, the economy as a whole, and other systems function on a…

Q: Macroeconomics focuses on:   A.The economy as a whole   B.Individual decisions   C.Wages…

A: Macroeconomics is the field of economics wherein we studies the performance of macroeconomic…

Q: 1. Economic relationships can be expressed as equations, graphs, and schedules. a. True b. False

A: According to the given question In simple words we can say that the economic relationships are the…

Q: What are the interrelationships of digital economy and covid19 in the United Kingdom?

A: Government as well as central bank have the responsibility to manage the financial and economic…

Q: Write a sentence or two defining the following terms in your own words. Give examples of each. a.…

A: A) planned system - this is an economic system where government plans production, allocation and…

Q: How can the study of macroeconomics help a country's economic managers? O a. All of these are…

A: Macroeconomics is the study of a country's aggregates.