The private economic agents are families and companies.

Families are the owners of the factors of production

The main function of companies is to give work to the population.

The objective of the public sector is to maximize general welfare.

In the circular flow of income there are two flows: one of money and another of goods and services and factors of production.

When we look for work we go to the factor market.

In the product market, goods, services and factors of production are exchanged.

In consumers, preferences and work are what influence their decision

The families are made up of businessmen, workers, renters and strict consumers.

Companies calculate their business profits through the difference between income and expenses.

There are non-profit companies whose objective is to keep money from their goods and services.

Specialization and exchange are two characteristics of all economic systems.

The circular flow of income is the set of relationships between families and companies.