A Circular Flow Model Shows the Interrelationship Between The_{--------------------} Market

question 52

Multiple Choice

A circular flow model shows the interrelationship between the_{--------------------} market and the_{--------------------}
Markets.

• A)expenditure; income
• B)goods; factor
• C)household; goods
• D)household; factor
• E)business; household

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Definitions:

Autonomy

The capacity to make an informed, uncoerced decision, often considered a fundamental ethical principle in bioethics and moral philosophy.

Effort Principle

The concept that the outcome of a situation or task is directly related to the amount of effort or energy invested in it.

Contribution Principle

The idea that individuals should contribute to society or a system in proportion to their abilities or benefits received.

Categorical Imperative

The categorical imperative is a central concept in the moral philosophy of Immanuel Kant, which posits that one should act only according to that maxim whereby you can at the same time will that it should become a universal law.