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Name the Four Basic Symbols Used in Analytic Flowcharting,and Briefly

question 104

Essay

Name the four basic symbols used in analytic flowcharting,and briefly define them.


Definitions:

Circular-Flow Diagram

An economic diagram that maps out the journey of money as it passes through markets, involving both households and businesses.

Household

An economic unit consisting of all the individuals who live together in one housing arrangement.

Market

A venue or mechanism through which buyers and sellers interact to trade goods, services, or securities.

Business

An economic system where goods and services are exchanged for one another or for money, on the basis of their perceived value.

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