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Question

What Are the Types of Circular Flow of Income?


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Solution

Circular flow of income are of the following types:

  1. Circular flow of income in a two sector economy
  2. Circular flow of income in a two sector economy (with introduction of capital market)
  3. Circular flow of income in a three sector economy (addition of government)
  4. Circular flow of income in a four sector economy (addition of external sector)

Also read: Circular Flow of Income and Methods of Calculating National Income

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