Circular Flow Diagram to mainly explain you about the definition of circular flow and to provide you with some examples of it in diagram. Do you know about circular flow diagram? If you’re studying about economics you should at least know about this diagram. For you who haven’t know what is that we will explain you about the general definition of circular flow diagram.
As it is said before, this diagram is existing in economics. It is an economy design about the flows of the money, services, and products (goods). It affect changes on the relationship between economic agents. It has arrows circling in the opposite direction like we will see on the diagrams below.
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