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CBSE Class 12-commerce Answered

Explain the phases of circular flow?
Asked by ravimundrakd | 07 Apr, 2020, 11:49: AM
answered-by-expert Expert Answer

The 3 phases of circular flow are:

1 Generation / Production Phase - states the flow of goods and services in the economy or the process of value adding

2 Distribution Phase -states the distribution of income in terms of wage, rent, interest and profit 

3 Disposition Phase - states the disposal of income in terms of consumption expenditure or investment expenditure.

To understand the phases Click to watch video
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