An economic model that depicts how money moves across the economy is the circular flow model. Businesses need resources to generate the goods and services that households and households buy.
What is economy?
The mechanism through which a nation or region organizes its money, industry, and trade is concerned to as its “economy.”
The most popular version of this model displays the circular flow of revenue between the consumer and business sectors. The product market and the resource market are placed between the two.
Consumer spending is the mechanism through which households' money flows to the market for goods and services when they are in need of them. The product market purchases goods and services from companies and sells them to households, making a profit.
As a result, in the circular flow of the economy, money is utilised to purchase goods and services.
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One of the most important thing is to invest in education. During the early childhood is essential to provide a proper education because these first six years are going to influence in the future of the child about how the children will learn and how many chances to succeed they could have in their futures lives.
The oldest responsibility of government is to protect citizens from violence by creating and applying human rights since the birth. This includes to provide the safety and order, protecting citizens from each other and from foreign causes.
It also must support the economic infrastructure of human connectivity that, in social concepts, improves the capital necessary to live in a dignified way.
Southern Colonies- reason for settlement
The Southern Colonies were settled mainly for economic gain(commercial gain).
