review the diagram. which economic concept does the diagram show? one example of deflation the circular flow…

review the diagram. which economic concept does the diagram show? one example of deflation the circular flow of income the changing cost of living one cause of hyperinflation goods and services consumer spending wages, rent, and dividends factors for production

review the diagram. which economic concept does the diagram show? one example of deflation the circular flow of income the changing cost of living one cause of hyperinflation goods and services consumer spending wages, rent, and dividends factors for production

Answer

Brief Explanations:

The diagram shows the flow between households and firms. Households provide factors of production and receive wages, rent, and dividends. They use this income for consumer - spending to buy goods and services from firms. This is the circular flow of income concept in economics. Deflation, cost of living, and hyper - inflation are not depicted here.

Answer:

the circular flow of income