Which statement best describes the circular flow model? a. the model represents the movement of money and resources throughout the economy. b. the model represents the interactions within sectors. c.the model represents the flow of goods and services abroad. d.the model represents the changing relationships between actors.

The following statement best describes the circular flow model: The model represents the movement of money and resources throughout the economy. Correct A It is a simple economic model that  illustrates the flow of goods and services though the economy, between the producers( firms)  which supply goods and services and consumers  (households) which consume these goods and services.

The best answer is a. This model represents the movement of money and resources throughout the economy.

Further Explanation

The Circular Flow Chart is a visual economic model, which shows how money flows through the market between households and companies.

In this model, economic actors are simplified into two economic actors, namely firms (firms) and households (households). The circular flow diagram model shows the interaction between the household and the company.

The company produces products (can be goods or services) using factors of production owned by households. The factors of production can be labor, land, and capital (buildings/buildings, equipment, and machinery).

Households get income from the company for selling/renting out these factors of production. After that, the company's products are sold by the company and then bought by households. The company gets income from household expenses to buy the product (goods and services).

Circular flow diagram consists of several sectors:

1. The economic activity of the two sectors

In the economy, the two sectors only involve two parties, namely the Production Household and Household Consumption.

2. Three sectors of economic activity

In the economy, the two sectors only involve three parties, namely the Production Household; Household Consumption; and Government / State / Government Household.

3. The economic activities of the four sectors

The economic activities of the four sectors involve four parties. Export and import economic activities are characteristic of the activities of the four sectors. So that goods and services can be distributed throughout the world.

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definition of The Circular Flow Chart

Division of sectors from the Circular Flow Chart diagram

Details

Grade: High School

Subject: Social studies

keywords: The Circular Flow Chart

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