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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."
Natural resources flow through the economy and end up as waste and pollution. A simple circular flow of income diagram is replaced in ecological economics by a more complex flow diagram reflecting the input of solar energy, which sustains natural inputs and environmental services which are then used as units of production. Once consumed ...
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 ...
Circular economy strategies can be applied at various scales, from individual products and services to entire industries and cities. For example, industrial symbiosis is a strategy where waste from one industry becomes an input for another, creating a network of resource exchange and reducing waste, pollution, and resource consumption. [33]
Example of a flow diagram of a nuclear submarine propulsion system. Flow diagram is a diagram representing a flow or set of dynamic relationships in a system. The term flow diagram is also used as a synonym for flowchart, [1] and sometimes as a counterpart of the flowchart. [2]
For example, in the Keynesian depiction of the circular flow of income and expenditure, leakages are the non-consumption uses of income, including saving, taxes, and imports. In this model, leakages are equal in quantity to injections of spending from outside the flow at the equilibrium aggregate output.
A chord diagram is a graphical method of displaying the inter-relationships between data in a matrix. The data are arranged radially around a circle with the relationships between the data points typically drawn as arcs connecting the data. The format can be aesthetically pleasing, making it a popular choice in the world of data visualization.
Beside the flow maps in cartography there are several other methods for visualizing non-geographic flow: Baker flow map of fluid flows; Blood flow maps, see history of neuroimaging; Flow map or solution operator, see random dynamical system; Process flow map of a manufacturing process; Sankey diagram; XSL flow maps, see XSL Formatting Objects
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