Circular Flow - Represents the transactions in an economy by flows around a circle.
2 Economic Actors:
1. Household - Person or a group of people who share their income
2. Firm or Business - Organization that produces goods and services for sale.
Factor Market: FOP (Factors of Production)
Product Market: Goods & Services
Willy Rest In Peace = Wages, Rents, Interest, Profit.
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