1. DECISION MAKING UNITS CONSUMPTION and PRODUCTION

2. Market 1. an open place or a covered building where buyers and sellers convene for the sale of goods; a marketplace: a farmers' market. 2. a store for the sale of food: a meat market. 3. a meeting of people for selling and buying. 4. the assemblage of people at such a meeting. 5. trade or traffic, especially as regards a particular commodity: the market in cotton.

3. MARKETS RESOURCE / FACTOR MARKET PRODUCT / OUTPUT MARKET WHERE FIRMS/BUSINESSES BUY THEIR RESOURCES WHERE FIRMS/BUSINESSES SELL THEIR PRODUCTS TO HOUSEHOLDS

4. FIRM’S PERSPECTIVE

5. HOUSEHOLD’S PERSPECTIVE

6. ECONOMIC CIRCULAR FLOW

7. GOVERNMENT INVOLVEMENT GOVERNMENT