Markets (Grade 10 NSC Matric Economics): Flashcards

Meeting places where all economic participants come together

Where goods and services are bought and sold

Where factors of production (labour, land, capital) are traded

Movement of actual products, services, and people

Opposite direction to goods and services

Money flows exiting circular flow: Saving, Taxes, Imports

Money entering circular flow: Exports, Govt spending, Investment

$S + T + M = I + G + X$

Money saved by households and businesses in financial institutions

Economy expands