Module 7 How Does Our Economy Work?

Discussion

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Watch the following video before completing this discussion activity.

Circular Flow Matrix - How the Economy Works - Econ 1.7 (YouTube - 4:56)

Select & Explore

Based on this module week's summit session, what would you say is the role of firms in our macroeconomy? Do consumers indirectly and/or directly affect our macroeconomy? Discuss how microeconomics and macroeconomics affect the flow of money within the Circular Flow Model. Do you think firms could operate without households? Describe how these disciplines relate to the Circular Flow Model.

Locate a recent article or event (published within the last year) that highlights your relevant microeconomic/macroeconomic topics. Use the Hunt Library, newspapers, new stations, or other credible sources to discuss how your topic aligns with microeconomics. Include the following in your discussion:

• State the article or event you selected.
• Identify the microeconomic/macroeconomic concept(s).
• Describe your findings.
• Analyze the relevance to real-life applications.

Summarize your findings and provide a minimum of one reference