Learn and get some examples of the circular-flow diagrams here. We have a collection of printable circular flow diagrams for you who are studying the flows of goods and money. All of the diagrams are available here in the following images, just click to save and download!
What is this circular-flow diagram? It is a graphical representation of the flows of goods and money between two distinct parts of the economy. These parts are the market for goods and services, where households purchase goods and services from firms in exchange for money; and the market for factors of production, where firms purchase factors of production from households in exchange for money.
As you can see in the examples of the diagrams provided above, the circular flow diagram is a basic model used in economics to show how an economy functions. It identifies and tracks the way money, goods, and services move throughout the economy. In the diagram, there are two main characters, firms and households, where households represent consumers and firms represent producers. It also illustrates the equality between the income earned from production and the value of goods and services produced.
All of the printable diagrams are free, just click on it and save or print for your reference. You can use these diagrams for your teaching or studying session, or you can share them on social network!
Circular-flow Diagrams on Diagram Link. This content posted by Sasha Wilson on 08 May 2019 at 23:00. If you think this article of Circular-flow Diagrams is good for you, please share this wonderful Science Diagram Diagram Link content for your Diagram Reference.