Question

the circular flow model is group of answer choices a simple model that explains how the economy is organized. a geographic model that shows economic development in a region. a model that shows the flow of money in major financial institutions. an engineering model that shows water flow in storm water sewers.

Answer 1

The circular flow model is  a model that shows the flow of money in major financial institutions.

What is circular flow model?

• The circular flow model shows how money flows in an infinite loop from producers to households and back again.
• In an economy, money moves from producers to workers as wages, and  from workers back to producers as workers spend money on products and services.
• In economics, a circular flow model represents the organization of the economy in a simple economic model.
• The diagram includes households, firms, markets for factors of production, and markets for goods and services.
• A circular flow model is an economic model that shows how money, goods, and services move between sectors of an economic system.
• This model is also known as the income cycle because money flows  between  sectors are also tracked to measure a country's national income or GDP.

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