=+7. The inhabitants of the fictional economy of Atlantis use money in the form of cowry shells.

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=+7. The inhabitants of the fictional economy of Atlantis use money in the form of cowry shells. Draw a circular-flow diagram showing households and firms. Firms produce potatoes and fish, and households buy potatoes and fish. Households also provide the land and labor to firms. Identify where in the flows of cowry shells or physical things (goods and services, or resources) each of the following impacts would occur. Describe how this impact spreads around the circle.

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Related Book For  book-img-for-question

Economics

ISBN: 9781319066604

5th Edition

Authors: Robin Krugman, Paul Wells

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