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  • ECS1601 - Economics IB (ECS1601)
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ECS1601-study_unit_1

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ECS1601 - Economics IB (ECS1601)
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ECS1601-study_unit_1

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STUDY UNIT 1

Unit outcomes
• identify the three major flows in the economy
• distinguish between a flow and a stock
• identify the various economic participants
• identify the various injections into and
leakages from the circular flow of income and
spending
• explain the interaction of the different sectors
in the economy by means of the circular flow
of income and spending

, Production, income and spending




• Stocks and flows
Box 3-1

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