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6. what is the circular flow of income?
- the movement of spending and income throughout an economy
- the movement of income in the world
- the movement of goods in an economy
7. what does imports stand for?
8. what are the withdrawals and injections into the cirlcuar flow?
- government, households, firms
- withdrawals = imports, tax,saving injections= exports, investments, government spending
- imports, tax, exports, government spending
9. what are the factors of production?
- capital, land, labour, enterprise
- primary, secondary, tertiary
- capital, enterprise, labour
- labour, land