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The Circular Flow Model of a Market Economy
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YouTubeJason Welker
The Circular Flow Model of a Market Economy
By this point in your course you may have learned the definition of a market: A place where buyers and sellers meet to engage in mutually beneficial exchanges. But what is a market economy? Two basic types of markets exist in any market economy: resource markets and product markets. The exchanges that take place in these markets benefit both ...
638.4K viewsAug 13, 2012
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