Draw a circular-flow diagram. Identify the parts of the model that correspond to the flow of goods

Question:

Draw a circular-flow diagram. Identify the parts of the model that correspond to the flow of goods and services and the flow of dollars for each of the following activities:

a Sam pays a shopkeeper $1 for a litre of milk.

b Terry earns $16.50 per hour working at a fast-food restaurant.

c Uma spends $13 to see a film.

d Violet earns $10

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question
Question Posted: