Grade 10
Economics
0/5 Topics completed
Foundations
Macro
- 02Circular flowIn a two-sector circular flow, households supply factors to firms, firms pay incomes, and households spend those incomes on the firms' goods and services.
- 03Business cyclesThe business cycle moves through an upswing, a peak, a downswing and a trough as overall activity rises and falls.
- 05Public sectorThe public sector raises tax to fund government activity, including public goods that private sellers cannot easily charge for, and merit goods that society wants people to have.