Using the outline below, draw a circular-flow diagram representing the interactions between households and firms in a simple economy.Explain briefly the various parts of the diagram.
Definitions:
Welfare
A government program that provides financial aid and services to support individuals and families in need.
Random Digit Dialing
A method of sampling telephone numbers at random for surveys, to ensure a representative sample of a population.
Telephone Numbers
A sequence of digits assigned to a landline or mobile telephone subscriber station connected to a telephonic network, through which the subscriber can be reached.
Push Poll
A controversial polling technique where the questions are designed to shape or influence the respondent's opinion rather than measure it.
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