Economic activity

The barter system facilitated exchange of goods and services before the advent of the monetary system. Let us take a closer look at the history of this age-old system.

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Example 4: 3 Sector Circular Flow Diagram This Economy infographic represents the three-sector circular flow of income model. The economy consists of three sectors: households, business, and government. You can observe the flows from the households and business to the government in the form of taxes, labor, goods, and services.

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The main difference between economic and non-economic activity is economic activities are performed for economic motive, i.e. earning profit. On the other hand, non-economic activities are performed due to social or psychological reasons, i.e. out of love, affection etc.

Economic activity in France is likely to be slow in 2023 second half, according to the National Institute of Statistics and Economic Studies. The average annual growth this year is expected to be 0.9 per cent. As an annual average this year, inflation is likely to stand at 5 per cent and core inflation at 5.2 per cent. The morale of business leaders is weakening.

Adam Smith’s best known work effectively founded the discipline of economics on theories concerning the origins of money and markets. Do those theories stand up to scrutiny?

Although micro vs macro economics affect different levels of the economy and cover different policies, they are in fact two sides of the same coin...