"Unit 1.4 The Circular Flow Diagram (Assignment)"NOTE: To solve this assignment use the PowerPoint (week-1) that accompanies it (2-sector).Q-1). Do you know the flow?Find a circular flow model below with missing flow, label each flow with 1, 2, 3, ... 7, 8. Also show the spending and revenue or wages/profits and income (money flow) and goods/services (Real Flow). Answer the scenarios using the numbers you have labeled on a circular flow model. To answer correctly, pay close attention to the subject and verb in each scenario. Scenarios Arrows (Numbers)1. Famous brand Sana Safinaz sold full embroidered shirts at a department store. 2. Developers "AZW" hired five new software programmers.3. Rouhaan spent Rs.250 for a meal at a local restaurant.4. AZW Farms Inc. rents its apple orchard for Rs.500,000 per year.5. Warsi received his portrait photographs from "Studio Nine" Photography.6. Sunway Lagoon Water Park received Rs. 900,000 in ticket sales last Saturday. 7. Sara, a recent graduate with a PhD in Finance, applies for jobs with the government, universities, and international nonprofits.8. Asif earns Rs.300 per hour from his summer internship program.Q-2). Explain in detail the circular Flow diagram labeled above in Question-1; each market/sector should be explained separately?Answer:

LO Two, Three and Four Sector Economy INJECTIONS Investment (1) Government Export Expenditure (G) Expenditure (X) . . Consumption of Factor domestically BANKS, etc GOV. ABROAD Payments produced goods and services (Cd) Net Net Import Saving Taxes (T) Expenditure (M) (S) WITHDRAWALS LO Two Sector Economy (Activity) Goods and Services Goods and Services Spending Revenue PRODUCT MARKET HOUSEHOLDS FIRMS RESOURCE MARKET Income Wages, Interest, Rent, Profit Factors of Production Labor, Capital, Land, Entrepreneurship