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A-Level The Circular Flow of Income
What the A-Level syllabus expects for The Circular Flow of Income, and how to practise it.
What the syllabus expects
- The circular flow of income is a model of interaction linking households, firms, government and the foreign sector.
- Within the model, national income, expenditure and output are all equal to one another.
More A-Level H2 Economics topics
Scarcity, Choice and How Resources Get Allocated · How Economic Agents Reach Decisions · The Price Mechanism and What It Does · Applying Demand and Supply Analysis · Government Intervention in Markets · What Firms Aim For · all of A-Level H2 Economics