Circular Flow Matrix- How the economy works

In this video I explain the Circular Flow Matrix and how products, resources, and money flow in a market economy. I also define the factors of production, public sector, and factor payments. Keep in mind that households and businesses both demand and supply. Thank you for watching. Please subscribe and let me know if you want me to cover anything.

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I'm Jacob Clifford and I have helped thousands of students understand economics. This YouTube channel has over 300 videos explaining all the key concepts and graphs of micro and macroeconomics. Be sure to subscribe and check out the economics review app for your smartphone. Thanks for watching. You rock!

[JacobAClifford]

Half way through this video I realized that many of you may have never seen the movie the Matrix. Have you see it? Do you think capitalism enslaves us or liberates us? Let me know

[ReviewedAsExperienced]

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[PressStartLetsPlay]

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SOUNDS A LOT LIKE OPPORTUNITY COST TO ME

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I also believe the matrix can enslave and liberate us, it is dependent on your mindset and what you believe.
You can chose to feel enslaved or you can chose to feel liberated- emphasis on the FEELING & BELIEVE

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Thanks for being such a helpful teacher Mr. Clifford!!

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