The Basic Concepts of

Economics

Marvin Ian Estavilla Niere

Master of Economics
Doctor of Management
major in Human Resource Management
(cand)
 The Circular Flow Model
Factors of Production such as
land, labor, capital and entrepreneurial ability

Factor Payments such as

rent, wages or salary, interest and profit

HOUSEHOLDS FIRM

Income payments

goods and services

The Circular Flow Model Reflecting
Outflows and Inflows

Firm
Household

savings banks investment

taxes government government

expenditure

Foreign
import export
countries
Thank you!!!!....