5. micro macro-international circular flow models

This document outlines several international circular flow models including micro-macro and international models. The micro-macro model shows the circular flow between households, businesses, and firms involving the exchange of goods, services, and factors of production which generate household income and business receipts. The international model adds elements of international trade such as exports, imports, and the flows of export revenue and import bills between a country and the rest of the world. The document provides a high-level overview of circular flow models at both the domestic and international levels.