BUSINESS ADMINISTRATION
BUSINESS POLICY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Which of the following does NOT contribute to the standard of living?
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income
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education
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housing quality
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circular flow
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Explanation:
Detailed explanation-1: -The circular flow consists of two main types: real flow and money flow. In the three-sector circular flow model, the government is added to the basic circular flow model (two-sector model). The financial and overseas sectors are not included.
Detailed explanation-2: -The circular flow of income describes the flows of money among the different sectors of an economy. This representation includes the five main sectors: households, firms, government, the financial sector, and the rest of the world.
Detailed explanation-3: -Circular flow of income does not take place in case of closed economy.
There is 1 question to complete.