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POLITICAL PHILOSOPHIES: The range of philosophical orientations that people have about politics, especially concerning the role of government. While a wide range of differing opinions exist, most tend to fall on a spectrum bound by liberal views on one end and conservative views on the other. Liberals tend to favor a larger role of government and conservatives tend to favor a smaller role.

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Lesson 11: Circular Flow | Unit 1: Basic Flow Page: 5 of 22

Topic: The Payment Flow <=PAGE BACK | PAGE NEXT=>

The payment flow goes in the opposite direction of the physical flow. A physical commodity goes one direction through markets and payment goes the other.
  • The household sector buys production from the business sector (counter-clockwise flow) in exchange for payment (clockwise flow) through product markets.
  • The business sector buys resources from the household sector (counter-clockwise flow) in exchange for payment (clockwise flow) through factor markets.
  • Revenue received by the business sector for selling goods is used to pay the factors of production.
  • Factor payments become income used by household sector to buy production from the business sector.
  • The circular flow makes about six cycles around the economy each year.

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CONSUMER ADVISORY COUNCIL

A support committee of the Federal Reserve System that provides advice and input to the Federal Reserve Board of Governors on matters dealing with consumer credit. The Federal Advisory Council (FAC) is comprised of 30 members, representing a broad spectrum of consumer related interests. The CAC is one of three Federal Reserve Board advisory committees. The other two are Federal Advisory Council and Thrift Institutions Advisory Council.

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APLS

RED AGGRESSERINE
[What's This?]

Today, you are likely to spend a great deal of time calling an endless list of 800 numbers seeking to buy either a microwave over that won't burn your popcorn or a T-shirt commemorating the first day of winter. Be on the lookout for the last item on a shelf.
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This isn't me! What am I?

A half gallon milk jug holds about $50 in pennies.
"Our goals can only be reached through a vehicle of a plan, in which we must fervently believe, and upon which we must vigorously act. There is no other route to success. "

-- Pablo Picasso, artist

AACT
American Assocation of Commodity Traders
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