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1 January, 23:36

What is the purpose of the "circular flow model of a market economy?"

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  1. 1 January, 23:57
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    Two basic types of markets exist in any market economy: resource markets and product markets. The exchanges that take place in these markets benefit both the households and the firms that engage in exchanges. This lesson will introduce the circular flow of money, resources and goods and services in a market economy.
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