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Author Question: Which of the following is not a flow in the circular flow model? A) the flow of profit and the ... (Read 104 times)

yoroshambo

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on: Jun 29, 2018
Which of the following is not a flow in the circular flow model?
 
  A) the flow of profit and the flow of revenue
  B) the flow of income earned by households and the flow of expenditures incurred by households
  C) the flow of revenue received by producers and the flow of payments to resource owners
  D) the flow of goods and services and the flow of resources to produce goods and services

Question 2

What is the relationship between individual demand and market demand?
 
  What will be an ideal response?


guyanai

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Reply #1 on: Jun 29, 2018
Answer to Question 1

A

Answer to Question 2

The market demand equals the sum of the individual quantities demanded by all the demanders at each price. Therefore the market demand curve equals the horizontal sum of the individual demand curves.


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