2. Draw a Circular-Flow diagram. Identify the parts of the model that correspond to the flow of goods and services and the flow of money for each of the following activities. (a) Pervin pays a shopkeeper1 manat for a litre of milk. (b) Nermin earns 3 manats per hour working at a fast food restraunt (c) Azer spends 7 euros to see a film. (d) Anar carns 10000 euros from his 10 percent ownership in a travel company.
2. Draw a Circular-Flow diagram. Identify the parts of the model that correspond to the flow of goods and services and the flow of money for each of the following activities. (a) Pervin pays a shopkeeper1 manat for a litre of milk. (b) Nermin earns 3 manats per hour working at a fast food restraunt (c) Azer spends 7 euros to see a film. (d) Anar carns 10000 euros from his 10 percent ownership in a travel company.
Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter2: Choice In A World Of Scarcity
Section: Chapter Questions
Problem 7SCQ: Would a research study on the effects of soft drink consumption on childrens cognitive development...
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