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4.2.1 circular flow of income in a closed economy and an open economy

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Why is the circular flow of income continuous?

A

One agent's imports become another agent's income, sustaining the next round.

B

One agent's saving becomes another agent's income, sustaining the next round.

C

One agent's taxation becomes another agent's income, sustaining the next round.

D

One agent's spending becomes another agent's income, sustaining the next round.

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4.2.1 circular flow of income in a closed economy and an open economy Flashcards

  1. Intl A Level
  2. /Economics
  3. /4.2.1 circular flow of income in a closed economy and an open economy

22 flashcards on CIE Intl A Level Economics 4.2.1 circular flow of income in a closed economy and an open economy: the key terms and definitions you need to recall.