Exam (elaborations)
ECS1601_Exam Pack_2021.
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ECS1601 - Economics IB. ECS1601_Exam_Pack_2021. The 3 major flows in the economy as a whole are total production, total income and total spending. • 2 basic participants are households and firms • Stock variable eg balance in a savings account on a particular day • Consumption is a flow v...
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