Show the graphical presentation of exchange for goods

Reference no: EM131077024

The circular flow mode shows that goods and services are households demand are supplied by firms in product markets.

1. Use a simplified circular flow of economic activity to show the graphical presentation of exchange for goods and services

2. Suppose the firms in the economy were to produce fewer goods and services .How do you think would affect house hood spending on goods and services(use the circular flow model to analyze this question)

Reference no: EM131077024

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