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Essay specific features

 

Issue:

American History

 

Written by:

Kelly H

 

Date added:

October 13, 2016

 

Level:

University

 

Grade:

A

 

No of pages / words:

3 / 672

 

Was viewed:

7195 times

 

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Essay content:

It shows how output generates income which is then spent and it shows the relationship between households, the government and the foreign trade sector A TWO SECTOR MODEL:- A simple model of the economy in which there are only two sectors, firms and households, is illustrated in Figure 26. I. Firms are the producing units which hire services provided by the people from the households...
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I. Firms are the producing units which hire services provided by the people from the households. For these services firms pay wages (for labor), rent (for land), interest and dividends (for the services of capital).There is therefore, a flow of factor services from households to firms and a flow of income from firms to households...
displayed 300 characters

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