• Describe the circular flow of income and spending in the economy. Explain how the following elements fit in the flow and give examples in the context of South African economy: i. ii. The Government sector The Firms iii. The Households iv. Th Foreign sector

• Describe the circular flow of income and spending in the economy. Explain how the following elements fit in the flow and give examples in the context of South African economy: i. ii. The Government sector The Firms iii. The Households iv. Th Foreign sector

Economics Today and Tomorrow, Student Edition

1st Edition

ISBN:9780078747663

Author:McGraw-Hill

Publisher:McGraw-Hill

Chapter2: Economic Systems And The American Economy

Section2.1: Economic Systems

Problem 5R

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Question

• Describe the circular flow of income and spending in the economy. Explain how the
following elements fit in the flow and give examples in the context of South
African economy:
i.
ii.
iii.
iv.
V.
The Government sector
The Firms
The Households
Th Foreign sector
The Financial sector/institutions.

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