Statement 1: Circular flow of Income does not take place in case of closed economy.

Statement 2: Flow of income is circular in a two-sector economy.

In the following questions, read the following statements and choose the correct alternative among those given below:


(a) Both the Statements are true.

(b) Both the Statements are false.

(c) Statement 1 is true and Statement 2 is false.

(d) Statement 2 is true and Statement 1 is false.

Anurag Pathak Changed status to publish November 18, 2023