Economics Ecs1601
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ECONOMICS 1B {ECS 1601} INTERDEPENDENCE OF THE MAJOR SECTORS, MARKET AND FLOWS IN A MIXED ECONOMY
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ECONOMICS 1B {ECS 1601} 
INTERDEPENDENCE OF THE MAJOR SECTORS, MARKET AND 
FLOWS IN A MIXED ECONOMY 
 Production is not pursued for its own benefit, the ultimate aim is to use or 
consume the products to satisfy human wants. 
 Production creates income and this income is then spent to purchase 
products. 
 This process contains 3 major elements are: 
 Production 
 Income 
 Spending. 
 One problem is how the income is distributed among the various 
participants in the economy...
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