Week 1 Discussion Your son is graduating from high school and is about to enter the work force. He has developed a strong curiosity about our economic system and how it works. Because you have a good understanding of basic economics, he has asked you to explain several concepts that are essential to an understanding […]
Explain what each of its components mean and how that detailed model of “income” and “expenditures” provides a foundation for economic theory?
Circular flow Devote approximately 600 words, or two to four paragraphs preparing your mini essay. Accordingly, you are expected to draw on all assigned materials and course content to support your answers. Mini essay A Consider the “circular flow” diagram for our economy. Explain what each of its components mean and how that detailed model […]
Discuss how microeconomics and macroeconomics affect the flow of money within the Circular Flow Model. Do you think firms could operate without households?
How Does Our Economy Work? Watch the following video before completing this discussion activity.Circular Flow Matrix – How the Economy Works – Econ 1.7 (YouTube – 4:56)(https://www.youtube.com/watch?v=mN5HPJYJzus&feature=youtu.be%20)Select & ExploreBased on this module week’s summit session, what would you say is the role of firms in our macroeconomy? Do consumers indirectly and/or directly affect our macroeconomy? […]