In economics, a circular flow model is a diagram that is used to represent the monetary transactions in an economy.
There are two flows present within the model including flows of physical things (goods or labor) and flows of money (what pays for physical things).<span>The circular flow of income follows a specific pattern: Production → Income → Expenditure → Production.</span>The production possibility frontier can be used to illustrate the circular flow model.Economists use data, statistics, and natural experiments in order to make economic "laws" that explain general patterns.<span>.</span>
Here are some topics and presidents you can study that would help with this assignment.
Teddy Roosevelt (1901-1908)
- Preservation of national parks and forests.
- Meat Inspection Act: This helps to protect American consumers from businesses who were previously selling tainted meat.
- Panama Canal- This important waterway connected the Atlantic and Pacific Ocean.
Abraham Lincoln (1861-1865)
- Emancipation Proclamation
- Lead Union to win in the Civil War.
- 13th amendment- This gets rid of the institution of slavery in the United States.
He became a leader in the abolitionist movement, which sought to end the practice of slavery, before and during the Civil War. After that conflict and the Emancipation Proclamation of 1862, he continued to push for equality and human rights until his death in 1895.
Industrialization (1800s but not sure if it was late 1800s...):
-economic development- led to more factories & factory workers
-development of railroads (especially railroads that made it easier to move, transported materials & trade) new technologies and innovations like steamships, spinning jenny, cotton gin... etc...
-people in many parts of the world started moving to the US for better opportunities
this led to people from diff parts of the world to migrate to the US (better to write about for late 1800s):
-extreme hardship
-war
-lack of economic opportunities/high unemployment
then theres new places (such as the US) where your overhear about:
-more jobs
-promise of a better life
-freedom to practice ones religion
-an overall better standard of living
