Subject category:
Economics, Politics and Business Environment
Published in:
2015
Length: 8 pages
Data source: Generalised experience
Topics:
Circular flow of economy; Circular flow of economy and visible hands; Circular flow of economy and invisible hands; Circular flow of economy and trade, specialization and division of labour; Circular flow of economy and money; Circular flow of economy and capital; Circular flow of economy and decision making
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Abstract
This caselet introduces the participants/students to the concept of circular flow of an economy. Set in the backdrop of the Bangalore School of Management's (BSM) cultural fest - 'Colors of India' - this caselet helps understand the factors that propel a smooth operation of circular flow. When several women social entrepreneurs assembled at BSM's cultural fest, 'Colors of India', their sales expectations were quite high. However, the first day's sales seem to have dampened their spirits and the organizers were in a spin to convince the women social entrepreneurs to be positive. While the event is a microcosm of how an economy's circular flow operates, there are several visible and invisible hands that keep the circular flow at a constant motion. What are those visible and invisible hands? How can a college fest be a microcosm of a circular flow of an economy?
Location:
Other setting(s):
2015
About
Abstract
This caselet introduces the participants/students to the concept of circular flow of an economy. Set in the backdrop of the Bangalore School of Management's (BSM) cultural fest - 'Colors of India' - this caselet helps understand the factors that propel a smooth operation of circular flow. When several women social entrepreneurs assembled at BSM's cultural fest, 'Colors of India', their sales expectations were quite high. However, the first day's sales seem to have dampened their spirits and the organizers were in a spin to convince the women social entrepreneurs to be positive. While the event is a microcosm of how an economy's circular flow operates, there are several visible and invisible hands that keep the circular flow at a constant motion. What are those visible and invisible hands? How can a college fest be a microcosm of a circular flow of an economy?
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Location:
Other setting(s):
2015