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Explain the circular flow of income.

Class 12 Economics in Class 12 3 years ago

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Solution :The Circular flow of income can be better understood with the HELP of following diagram:
Income are generated in production units DUE to the joint efforts of factor owners from households.
These incomes are distributed to the factor owners who in turn SPEND the income on purchasing goods and services produced in production units. This makes the circular flow of income COMPLETE.
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Posted on 11 Dec 2021, this text provides information on Class 12 related to Economics in Class 12. Please note that while accuracy is prioritized, the data presented might not be entirely correct or up-to-date. This information is offered for general knowledge and informational purposes only, and should not be considered as a substitute for professional advice.

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