Class 12 Economics Circular Flow of Income & Types of Markets
The three different phases in the circular flow of income are: Generation Phase – In this stage, the firm makes the products and enterprises with the help of factor administrations. Distribution Phase – This stage includes the progression of factor salary, which involves lease, interests, wages, and benefit from firm to the family. Disposition Phase – Here, the pay gathered by the variables of creation, is utilized on the products and ventures made by a firm.
- - By takshilalearn
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