The Circular Flow Households. The Circular Flow Households Land, Labor, Capital.

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Presentation transcript:

The Circular Flow Households

The Circular Flow Households Land, Labor, Capital

The Circular Flow Factor Market Households Land, Labor, Capital

The Circular Flow Factor Market Business Firms Households Factors of Production Land, Labor, Capital

The Circular Flow Factor Market Business Firms Households Income Wages, Rent, and Profit Factors of Production Land, Labor, Capital $ $

The Circular Flow Factor Market Business Firms Households Income Wages, Rent, and Profit Factors of Production Goods and Services Produced Land, Labor, Capital $ $

The Circular Flow Product Market Factor Market Business Firms Households Income Wages, Rent, and Profit Factors of Production Goods and Services Produced Land, Labor, Capital $ $

The Circular Flow Product Market Factor Market Business Firms Households Income Wages, Rent, and Profit Factors of Production Goods and Services Produced Goods and Services Bought Land, Labor, Capital $ $

The Circular Flow Product Market Factor Market Business Firms Households RevenueSpending Income Wages, Rent, and Profit Factors of Production Goods and Services Produced Goods and Services Bought Land, Labor, Capital $ $ $$

The Circular Flow Product Market Factor Market Business Firms Households RevenueSpending Income Wages, Rent, and Profit Government Public Goods Factors of Production Public Goods Goods and Services Produced Goods and Services Bought Land, Labor, Capital $ $ $$ Taxes