Which of the following statements are incorrect ? (A) Circular flow of income does not take place in a closed economy. (B) Real flow consists of flow of factor services from households to firms. (C) In a two-sector economy, total production is always equal to total consumption. (D) Money flow consists of flow of factor payments from households to firms. Choose the correct answer from the options given below :

Question

Option 1: (A) and (B) only

Option 2: (A), (B) and (C) only

Option 3: (A) and (D) only

Option 4: (C) and (D) only

AfterBoards · Accepted Answer

The answer is '(A) and (D) only'. View full solution:

CUET Economics PYQs

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