What is the best definition of the circular flow of income?

the wages that workers earn from doing their jobs

the exchange of money between firms and households

the money that consumers spend on goods and services

the influence of the government in a mixed-market economy

✓ Done

5) Intro

Question

History

Jazlyn Johns

19 March, 01:08

What is the best definition of the circular flow of income?

the wages that workers earn from doing their jobs

the exchange of money between firms and households

the money that consumers spend on goods and services

the influence of the government in a mixed-market economy

✓ Done

5) Intro

+3

Answers (1)

Know the Answer?

Heidy Mcpherson · Answer 1

The correct answer is the exchange of money between firms and households

Explanation: Is a model used to explain economics. Shows the flow of economic activity in diagrammatic format, which includes a financial flow.

It explains the situation of economy.

Represents the flows of money between the two main groups in society, producers and consumers.

What is the best definition of the circular flow of income?the wages that workers earn from doing their jobsthe exchange of money between firms and householdsthe money that consumers spend on goods and servicesthe influence of the government in a mixed-market economy✓ Done5) Intro

What is the best definition of the circular flow of income?

the wages that workers earn from doing their jobs

the exchange of money between firms and households

the money that consumers spend on goods and services

the influence of the government in a mixed-market economy

✓ Done

5) Intro