One of the most basic models of the economy is:

Question

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The circular flow model is a fundamental model in economics that explains the flow of goods and services between households and firms, and the flow of money in the economy. It is used to illustrate basic economic concepts such as production, consumption, saving, and investment. Real GDP per capita, the current population survey, and consumer expenditure are all important economic indicators but are not basic models of the economy.

One of the Most Basic Models of the Economy Is