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The circular flow of income is a concept for better understanding of the economy as a whole and for example the National Income and Product Accounts (NIPAs). In its most basic form it considers a simple economy consisting solely of businesses and individuals, and can be represented in a so-called "circular flow diagram." In this simple economy ...
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One of the difficultiesraw in Word is that you can't cut out parts of a shape. It is possible however to give the appearance of a cut out by overlaying the shape with another shape that is coloured with the background colour. So for example if you want a red semicircle, you draw a red circle and overlay it with a white rectangle [or a rectangle ...
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The Circular Flow published by Paul Samuelson in 1944 and the supply and demand curves published by William S. Jevons in 1862 are canonical examples of neoclassical economic models. Focused on the observable money flows in a given administrative unit and describing preferences mathematically, these models ignore the environments in which these ...
The use of words and arrows (known in network theory as nodes and edges) to construct directed graph models of cause and effect dates back, at least, to the use of path analysis by Sewall Wright in 1918.
A control-flow diagram (CFD) is a diagram to describe the control flow of a business process, process or review. Control-flow diagrams were developed in the 1950s, and are widely used in multiple engineering disciplines.
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