In the Circular Flow Model

question 27

Multiple Choice

In the circular flow model,

• A)firms are sellers of goods and services in goods markets.
• B)firms are sellers of the factors in factor markets.
• C)households are buyers of goods and services in the factor markets.
• D)firms are buyers of goods and services in final markets.
• E)households are sellers of factor services in goods markets.

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Definitions:

Phallic Stage

A phase in Freudian psychosexual development where a child’s focus of libido is on the genital area, marking it as a critical stage in the formation of sexual identity.

Marked Attachment

Marked attachment refers to a strong emotional bond, typically between a child and a caregiver, characterized by the child's tendency to seek proximity to the caregiver for security and comfort.

Same-Sex Parent

A parent who is of the same gender as their child or who identifies as homosexual.

Psychologists

Professionals who study mental processes, behavior, and the mind, often working in academic, research, or clinical settings.