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Class 12 · Economics · Easy
→Who demands goods and services in the two-sector model?
Class 12 · Economics · Easy
→Who demands factor services for production in the two-sector model?
Class 12 · Economics · Easy
→If households receive goods from firms, what type of flow is it?
Class 12 · Economics · Easy
→Households buying goods is connected with which market?
Class 12 · Economics · Easy
→Households providing factor services is connected with which market?
Class 12 · Economics · Easy
→What does closed economy mean in the two-sector model?
Class 11 · Economics · Easy
→What is the direction of real flow and money flow?
Class 12 · Economics · Easy
→Consumption expenditure is paid from which sector to which sector?
Class 12 · Economics · Easy
→Factor income is paid from which sector to which sector?
Class 12 · Economics · Easy
→What is one major assumption of the simple two-sector model?
Class 12 · Economics · Easy
→If there is no saving in the two-sector model what happens to household income?
Class 12 · Economics · Easy
→Why is the flow of income called circular in the two-sector model?
Class 12 · Economics · Easy
→In what form do households receive income in the two-sector circular flow?
Class 12 · Economics · Easy
→What are the two main roles of firms in the two-sector model?
Class 12 · Economics · Easy
→What is the role of households in the two-sector model?
Class 12 · Economics · Easy
→Movement of labour service from household to firm is an example of which flow?
Class 12 · Economics · Easy
→Payment of wages by firms is an example of which flow?
Class 12 · Economics · Easy
→When households buy goods from firms who receives the money flow?
Class 12 · Economics · Easy
→Why is the foreign sector not added in the two-sector model?
Class 12 · Economics · Easy
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