Tag Archives | circular flow

The process of circular flow of income and product in a four sector opens economy explained

The process of circular flow of income and product in a four sector opens economy explained. An economy is normally a four sector Economy. In this economy there is another sector, called foreign trade or the trade with the rest of the world besides the other three sectors.

By |2011-06-17T14:02:29+00:00June 17, 2011|Economics|Comments Off on The process of circular flow of income and product in a four sector opens economy explained

The process of circular flow of income and product in a three sector closed economy explained

Explain the process of circular flow of income and product in a three sector closed economy. The circular flow of income and expenditure refers to the process whereby the national income and expenditure of an economy flow in a circular manner continuously through time.

By |2011-06-17T14:00:46+00:00June 17, 2011|Economics|Comments Off on The process of circular flow of income and product in a three sector closed economy explained
Go to Top