Explain how the circular flow diagram relates to the current economic in atleast 3 different situation. Using the circular flow diagram, explain a way that your family interacts in the factor market and a way that it interacts in the products market

Text
Amacher, R., & Pate, J. (2013). Microeconomics principles and policies[Electronic version]. Retrieved from https://content.ashford.edu/
Chapter 1: Economics, Economic Methods, and Economic Policy
Chapter 2: Markets, Governments, and Nations: The Organization of Economic Activity
Chapter 3: Supply and Demand: The Basics of Economic Analysis

Explain how the circular flow diagram relates to the current economic in atleast 3 different situation. Using the circular flow diagram, explain a way that your family interacts in the factor market and a way that it interacts in the products market

Text
Amacher, R., & Pate, J. (2013). Microeconomics principles and policies[Electronic version]. Retrieved from https://content.ashford.edu/
Chapter 1: Economics, Economic Methods, and Economic Policy
Chapter 2: Markets, Governments, and Nations: The Organization of Economic Activity
Chapter 3: Supply and Demand: The Basics of Economic Analysis