The circular-flow diagram explains, in general terms, how the economy is organized and how participants in the economy interact with one another.
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Q20: Historical episodes allow economists to illustrate and
Q21: In the circular-flow diagram, firms consume all
Q22: The circular flow model is not used
Q23: Figure 2-10 Q24: Figure 2-10 Q26: In the circular-flow diagram, the two types Q27: In the circular-flow diagram, one loop represents Q28: In the circular-flow diagram, factors of production Q29: Figure 2-10 Q30: In the markets for the factors of Unlock this Answer For Free Now! View this answer and more for free by performing one of the following actions Scan the QR code to install the App and get 2 free unlocks Unlock quizzes for free by uploading documents