Circular Flow: it shows the flows of money, goods and services and factors of production throughout the economy.
1. Households: A person or group of people who share income house holds own the factors of production 
2. Firms: Organization that produces goods and services firms produce goods by taking input which are your factors of production and turning them into outputs which are your finish products 
3. Government: Providers of public goods and services and demanders of both private goods and services and the factors of production.

2 Markets 

Product market: Goods and services are bought and sold here exchange finished  goods and services for money.

Factor Market/Resource Market:Where resources/capital/labor/are bought and sold