In the Circular Flow Model for an Economy That Produces

question 136

Multiple Choice

In the circular flow model for an economy that produces only consumption goods:

• A) factor incomes flow from households to firms.
• B) factors of production flow from households to firms.
• C) factor incomes flow from households to firms and to the government.
• D) factors of production flow from firms to households.

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Definitions:

Functionalism

A theoretical perspective in sociology and anthropology that explains social institutions and their roles in maintaining or disrupting social order.

Structural Changes

Alterations or transformations in the organizational, economic, or social structure of a system or society.

Caregiving Responsibilities

Obligations related to the care of dependents, such as children, elderly family members, or individuals with disabilities, often requiring time, emotional, and financial resources.

Canadian Society

A complex set of cultural, social, and economic structures and practices specific to Canada, shaped by its history, geography, and diverse population.