Circular flow relates to current economic situations

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Reference no: EM136316

Q1. the item to rice or paintings. Which product did you expect to have a higher index of intra-industry trade and why?

Q2. Using two different industries as example, explain how companies can use barriers to entry to discourage or even prevent competitors from entering the market.

Q3. Explain how the circular flow diagram relates to the current economic situation. Using the circular flow diagram, explain a way that your family interactsin factor market and a way that it interactsin products market. Discuss how circular flow relates to current economic situations.

Reference no: EM136316

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