<p>HELPPPPPPPPPP! I’m trying to get this assignment done for my Econ Class. But, I am SERIOUSLY confused - the directions are so wacked… </p>
<p>Can any of you decipher them for me?? </p>
<p>The Circular Flow is one of the most basic concepts of macroeconomics. View the Circular Flow Diagram and read the explanation provided </p>
<p>Next provide at least one local, one national and one international example of how one of your purchases (either actual or hypothetical) would cycle at least three times throught the Circular Flow. Except perhaps with the local example, you will need to be a little creative providing specific examples of Businesses and Households in your cycles around the Circualr Flow.</p>
<p>Thank you in advance :)</p>
<p>Local:</p>
<p>Detroit Edison hires employees to install gas delivery infrastructure to a new market. </p>
<p>The employees are paid wages.</p>
<p>The wages are used to purchase a new home.</p>
<p>The new home is built by a local builder.</p>
<p>Detroit Edison installs gas and electric lines to the new home, employing subcontractors and vendors to dig the trenches and supply the pipes and lines.</p>
<p>The suppliers are paid for the equipment used to dig the trenches that the gas and electric distribution lines are placed in to deliver utility service to the new home.</p>
<p>The suppliers pay their employees wages.</p>
<p>Their employees purchase cable TV services through a local company.</p>
<p>The local cable company buys cable and other materials from their suppliers.</p>
<p>The cable company hires technicians and customer service reps to take the orders and ensure timely, accurate installation.</p>
<p>The customer service reps and technicians are paid wages and benefits…</p>
<p>etc…</p>
<p>You hopefully get the idea and will be able to continue for your three examples</p>