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Chapter 2 The Circular Flow Model

Chapter 2 The Circular Flow Model

Author: Matthew Lonn
Description:

Understand the relationship that firms and households have in the competitive market.

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Tutorial

The Circular Flow Model

The Circular Flow Model

 

Use this tutorial to better understand what the circular flow model is along with the reading in your book and the notes from chapter 2. Use slides 22-24.

Questions you should be able to answer after the lesson.

1. Draw the Circular flow diagram.

2. Explain the difference between the product market and resource market.

Chapter 2 Notes

Video over circular flow model

Source: You Tube