In the Circular Flow Diagram, Households Demand ________ and Supply

question 129

Multiple Choice

In the circular flow diagram, households demand ________ and supply ________.

• A) labor; labor
• B) goods; services
• C) goods and services; labor
• D) labor; goods and services

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Definitions:

Trait Approach

A theoretical framework in psychology focused on the analysis and classification of human characteristics and behavior patterns as stable traits.

Ethnic Identity

A person's sense of belonging to a particular ethnic group, incorporating cultural traditions, language, and feelings of kinship.

Ego Identity

A sense of self that develops through social interaction, as proposed by Erik Erikson, playing a crucial role in one's feelings of continuity and sameness across time.

Personality

A mixture of feelings, attitudes, and patterns of action that characterizes a person.