In a 1-2 page paper develop the concepts of the “circular flow” of goods and services. Begin by reviewing this video: Circular Flow from the St. Lois Federal Reserve. A transcript is available for the hearing impaired, see also attached). Then, select one good you are familiar with. Describe how the good moves in relation to:
- Suppliers of goods and services
Be sure you have presented your assignment in a logical format, that has an introduction paragraph, the body (one or more paragraphs), and a concluding paragraph. Also, ensure that you have the appropriate formatting to avoid plagiarism and the appropriate grammar (this may be achieved by using free tools available on the Internet).
Papers will be assessed using the following criteria:
- Accurately describes the circular flow of goods relating to households.
- Accurately describes the circular flow of goods relating to firms.
- Accurately describes the circular flow of goods relating to money.
- Organization and style of the essay:
Presentation is very effective and presented in a logical format with a clear beginning, middle and end. There is a clear statement of ideas and smooth transitions. The writer has stated the main idea clearly and has provided relevant details. The main idea is clearly conveyed in a presentation that is highly relevant and interesting. The student provides evidence of thoughtful input. Details are rich and appropriate. Spelling, punctuation, and capitalization are virtually always correct.