Give me the answers of these questions??
Dear Student,
Answer to your questions is as follows :
2. Circular flow of income refers to the flow of money or flow of goods and services across the different sectors of an economy in a different form.
6. A flow or flow variable, is an economic magnitude describing behaviour that occurs over time.
And is therefore meaningful only relative to the unit of time.
12. Factor income refers to the income received by the factors of production in exchange of the services rendered by them.
For example, land owner receives rent, labour receives wages, capital owner receives interest and entrepreneur receives profit.
Answer to your questions is as follows :
2. Circular flow of income refers to the flow of money or flow of goods and services across the different sectors of an economy in a different form.
6. A flow or flow variable, is an economic magnitude describing behaviour that occurs over time.
And is therefore meaningful only relative to the unit of time.
12. Factor income refers to the income received by the factors of production in exchange of the services rendered by them.
For example, land owner receives rent, labour receives wages, capital owner receives interest and entrepreneur receives profit.
(Note : Students are advised to ask different questions in different threads)
Regards