circular flow of income Flashcards
1
Q
what are the 4 factors of production
A
land
labour
capital
enterpership
2
Q
what are the 4 factors of production in other terms
A
land - rent
labour - wage
capital - interest
enterpership - profits
3
Q
where does national income come from and go to
A
firms to households
4
Q
where does the national expenditure come from
A
households to firms
5
Q
4 FOP goes from where to where
A
households to firms
6
Q
goods market goes form where to where with GDP
A
firms to households
7
Q
what are the leakages
A
government toxins
import
saving
8
Q
what are the injections
A
governments spending
export
investment
