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This graph shows the circular flow of income in a five-sector economy. The flow of money is shown with purple, and the flow of goods and services is shown with orange. Money flows in the opposite direction from goods and services. [1] Basic diagram of the circular flow of income.
In economics, an input–output model is a quantitative economic model that represents the interdependencies between different sectors of a national economy or different regional economies. [1] Wassily Leontief (1906–1999) is credited with developing this type of analysis and earned the Nobel Prize in Economics for his development of this model.
Stocks of sectors and flow chart of money, energy, and materials of a Stock-Flow Consistent Input–Output Model. [31]SFC models usually consist of two main components: an accounting part and a set of equations describing the laws of motion of the system.
Number of establishments by sector in the United States economy in 1997, 2002, and 2007. Value of sales, shipments, receipts, revenue, or business done by sector in the United States economy in 1997, 2002, and 2007. Annual payroll by sector in the United States economy in 1997, 2002, and 2007.
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Economic activities can be classified in a variety of ways. At the top level, they are often classified according to the three-sector theory into sectors: primary (extraction and agriculture), secondary (manufacturing), and tertiary (services). Some authors add quaternary (knowledge) or even quinary (culture and research) sectors. Over time ...