The circular flow of income

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AQA, Economics, AS Level, ECON2, National, Economy, Aquinas,

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The circular flow of income

  1. 1. ECON2 WWW.AQUINASECONOMICSAS.CO.UK @AQUINASECONOMIC Circular Flow of Income Answer all the questions below 1. Explain the term economic model 2. Between Producers and Consumers draw a basic Circular Flow of Income 3. Explain why money can be described as flowing in a circular fashion 4. What is meant by an injection? 5. Draw a circular flow diagram to indicate and injection into the circular flow 6. Explain an leakage/withdrawal from the Circular flow 7. Illustrate the concept of a leakage in the Circular flow 8. Explain the multiplier effect

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