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\nBasics of Economic Activity and Circular Flow of Income Model\n

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\nThis video provides an introduction to the basics of economic activity, including key terms and definitions such as GDP, economic growth, and factors of production. It explains the relationships between these terms and how an economy can...\nThis video provides an introduction to the basics of economic activity, including key terms and definitions such as GDP, economic growth, and factors of production. It explains the relationships between these terms and how an economy can grow and develop over time. The video discusses the four main factors of production, including land, capital, labor, and entrepreneurship, as well as the rewards paid to the owners of these factors. It also explains the circular flow of income model. The video concludes by discussing the multiplier effect and the importance of recognizing the impact of open economies and other economic agents on this basic model.\n
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Resource Details

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Curator Rating
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Educator Rating
Not yet Rated
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Media Length
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12:42
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Grade
12th - Higher Ed
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Subjects
Social Studies & History
3 more...
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Media Type
Instructional Videos
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Source:
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\nKnowMo Economics\n\n
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Date
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2018
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Language
English
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Audiences
For Teacher Use
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Usage Permissions
Fine Print: Educational Use
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Concepts

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economics, income, natural resources, economic growth, business, workers, terms, interest, money
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Additional Tags

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a-level, lectures, macro, economic, activity, 1.1a, circular, flow, of, (closed, economy), lecture video, circular flow, economic agents, car manufacturer, economic activity, key terms, production process, process, overtime, capital, owners, individual, rent, production, back, means, world, taking, start, ideas, made
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Classroom Considerations

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Best For: Explaining a topic
Video is ad-free
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\n\" data-title=\"Get Full Access\" data-container=\"body\" rel=\"popover\" tabindex=\"0\" aria-label=\"Play video: Basics of Economic Activity and Circular Flow of Income Model\" href=\"/subscription/new\">\"Basics\n\n
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