2.4.1 National Income 0.0 / 5 ? EconomicsMacroeconomicsASEdexcel Created by: 13clarkenCreated on: 20-01-19 16:55 ... is the money that a person receives in exchange for something Income 1 of 8 ... is the money that a person holds. It may have built up from wages or investment returns, but it does not go anywhere Wealth 2 of 8 ... is the total amount of income flowing around the economy. It can also show total expenditure in an economy or the total amount of output National Income 3 of 8 ... can create income, the money and items stored can generate a flow of money e.g. a house Wealth 4 of 8 Circular flow of income: Firms to Households is ... Income 5 of 8 Circular flow of income: Households to firms is ... Expenditure 6 of 8 Circular flow of income: Firms to households can also be ... Goods and Services 7 of 8 Circular flow of income: Households to firms can also be ... Production Factors 8 of 8
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