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SS2: ECONOMICS - 3RD TERM
- Public Finance I | Week 15 Topics
- Public Finance II | Week 27 Topics|1 Quiz
- Balanced and Unbalanced Budgets| Week 35 Topics|1 Quiz
- Elements of National Income Accounting | Week 45 Topics
- Elements of National Income Accounting II | Week 56 Topics
- Income Determination | Week 64 Topics|1 Quiz
- Financial Market | Week 71 Topic
- Demand for and Supply of Money | Week 88 Topics|1 Quiz
- Inflation | Week 97 Topics
- Deflation | Week 105 Topics|1 Quiz
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Lesson 5, Topic 4
The Circular Flow of Income
When firms and households interact in the product and factor markets, they generate a flow of expenditure and income. Such flow of income and expenditure is known as the circular flow of income, which is shown below.