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The circular flow of income or circular flow is a model of the economy in which the major exchanges are represented as flows of money, goods and services, etc. between economic agents. The flows of money and goods exchanged in a closed circuit correspond in value, but run in the opposite direction.
The model is best viewed as a circular flow between national income, output, consumption, and factor payments. Savings, taxes, and imports are "leaked" out of the main flow, reducing the money available in the rest of the economy. Imported goods are one way this may happen, transferring money earned in the country to another one. [1]
A circular economy (also referred to as circularity or CE) [1] is a model of resource production and consumption in any economy that involves sharing, leasing, reusing, repairing, refurbishing, and recycling existing materials and products for as long as possible.
Superposition of uniform flow and source flow yields the Rankine half body flow. A practical example of this type of flow is a bridge pier or a strut placed in a uniform stream. The resulting stream function ( ψ {\displaystyle \psi } ) and velocity potential ( ϕ {\displaystyle \phi } ) are obtained by simply adding the stream function and ...
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The concept of circular flow land use management can be described with the slogan “reduce – recycle – avoid”. To create sustainable land uses, actions have to be supported to find new innovative ways to “reduce” the consumption of land by new development “recycle” or put back into use abandoned and derelict sites, and “avoid” future land use decisions that are not sustainable.
Circular cumulative causation is a theory developed by Swedish economist Gunnar Myrdal who applied it systematically for the first time in 1944 (Myrdal, G. (1944), An American Dilemma: The Negro Problem and Modern Democracy, New York: Harper). It is a multi-causal approach where the core variables and their linkages are delineated.
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