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ERIC Number: EJ883942
Record Type: Journal
Publication Date: 2010
Pages: 6
Abstractor: As Provided
Reference Count: 7
ISSN: ISSN-0883-2323
Introducing the Circular Flow Diagram to Business Students
Daraban, Bogdan
Journal of Education for Business, v85 n5 p274-279 2010
The circular flow of income diagram is a simplified representation of the functioning of a free-market economic system. It illustrates how businesses interact with the other economic participants within the key macroeconomic markets that coordinate the flow of income through the national economy. Therefore, it can provide students of business with a valuable tool for understanding the economic environment in which businesses operate. The author argues that the circular flow diagram may be used as an element of support for embedding a wide range of fundamental economic concepts into the structure of business education. He also describes an interactive classroom activity that engages students in constructing the diagram. (Contains 1 figure and 1 table.)
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Publication Type: Journal Articles; Opinion Papers
Education Level: N/A
Audience: N/A
Language: English
Sponsor: N/A
Authoring Institution: N/A