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    Circular Flow Model

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    Explain the characteristics of the business and household unit of the model.

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    Business and Households

    They are the basic decision-making units in the market economy. Firms are referred as the primary producing units in an economy; while households represent the consuming units. Also both units have people performing different functions ...

    Solution Summary

    The solution clearly explain the circular flow model using the characteristics of business and household unit of model. The solution is very well written and easy to understand. The solution is brief and concise and clearly explains the question. It is ideal for students who are looking a brief response to the question. Overall, an excellent response.