5. micro macro-international circular flow models
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This document outlines several international circular flow models including micro-macro and international models. The micro-macro model shows the circular flow between households, businesses, and firms involving the exchange of goods, services, and factors of production which generate household income and business receipts. The international model adds elements of international trade such as exports, imports, and the flows of export revenue and import bills between a country and the rest of the world. The document provides a high-level overview of circular flow models at both the domestic and international levels.
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- 1. MICRO-MACRO- INTERNATIONAL CIRCULAR FLOW MODELS Sophremiano B. Antipolo, PhD,EdD, CES
- 2. Household Business Firm GOODS/SERVICESGOODS/SERVICES FACTORS OF PRODUCTIONFACTORS OF PRODUCTION HOUSEHOLD INCOMEHOUSEHOLD INCOME BUSINESS RECEIPTSBUSINESS RECEIPTS
- 5. Philippines ROW IMPORTSIMPORTS EXPORTSEXPORTS EXPORT REVENUEEXPORT REVENUE IMPORT BILLSIMPORT BILLS
- 6. THE END
- 7. THE END