Explain how the Circular Flow Model for a Market-Oriented
Explain how the Circular Flow Model for a Market-Oriented System?
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A. There are two groups of decision makers in private economy (no government yet):
1. Households
2. Businesses.
The market system coordinates these decisions. Circular flow model illustrates this complex web of decision-making and economic activity that give rise to the real and money flows.
Explain in short the functions of money? Answer: (A) Medium of exchange: Money can be employed to make payments for all transactions of services and goods.
consumer's interview method for demand forecasting(point to point explain)
Use the circular flow model to confirm this assertion for the construction of a new high school in Blackhawk county?
When the prices for doughnuts and croissants are $.50 and $1 correspondingly: (w) the opportunity cost for one doughnut is two croissants. (x) this is better to buy two doughnuts than one croissant. (y) one croissant will make Pierre twice as happy as one doughnut. (z
Elucidate how Personal income tax is a major source?
Give a brief introduction of the term Timing Principle?
Write short note on Demand?
What happens to the demand curve when each of these determinants changes?
Illustrate the Law of supply?
Evaluate and explain the statements: “The market system is a profit-and-loss economy”
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