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Circular Flow Model for a Mixed Economy circular flow …
Circular Flow Model for a Mixed Economy
(All) Alan Long
Firm / Business
Business/ Firm defined
(6)
Cost /Price/ Expense
Business Expense
Government
Public goods and services
Public Goods and services
Transfer Payments
Gov't. Spending
Gov't. Spending
Resources and labor
(4)
Resource/ Factor Market
Res. /Factor Market Def.
(7)
Income / Factor Payments**
Rent, wages, interest, and profits
Income defined
(1)
Household / Individual
(2)
Resources/ Factors of Production
F.O.P.
(3)Inputs for Business
Income tax
Link Title
Consumer Spending on Necessities and Luxuries
Product Market
(5) Inputs for Business
Factors of Production (Land, Labor, Fiscal ($) capital, Entrepreneur)
Sales tax
Sales Taxes
