1. Households (Individuals)
Circular Flow
Goods
and Services
Goods and services S D Q P
Goods Market
Personal Cons
Expenditure $
Revenue $ Q P
Households (Individuals)
Business
Firms
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Role:
Producers hire resource
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Roles:
A. Resource
owners
Price
Resource
Resource Market
B. Consumers
$ Expense
Resource hired
$income S
Resource offered D N P
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© L Reynolds, 1999

2. Households (Individuals)
Circular Flow
(Mouse Click to Advance)
(Mouse Click to Advance)
(Mouse Click to Advance)
Goods
and Services
Goods and services S D Q P
Personal Cons
Expenditure $
Revenue $ Q P
Government
Households (Individuals)
Business
Firms
Taxes
Gov’t
Purchases & transfers
Role:
Producers hire resource
Roles:
A. Resource
owners
B. Consumers
$ Expense
Resource hired
$income S
Resource offered
Price D N P
Finis
Resource
© L Reynolds, 1999
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