Homework SourseA common economic model that reveals a relationship between
A common economic model that reveals a relationship between two types of groups interacting in marketing in an economy is called
A common economic model that reveals a relationship between two types of groups interacting in marketing in an economy is called
Solution
The circular flow moel shows the interaction of two types of groups in a market such as the firms and households. In this model where house holds and marfet for factors of production are used by firms to produce goods and services which inturn are purchased by households.
Thus in circular flow model we can see two groups interacting in a market.
