In the Circular-Flow Model, the Markets for Goods and Services

question 60

True/False

In the circular-flow model, the markets for goods and services, as in the markets for the factors of production, households are buyers and firms are sellers.

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Definitions:

Communal Orientation

An attitude or approach that emphasizes the welfare and needs of the community as a whole over individual self-interest.

Good Moods

Emotional states characterized by feelings of happiness, satisfaction, or optimism.

Positive Mood

A state of feeling wherein individuals experience joy, satisfaction, and well-being.

Mortality Salience

The state of being reminded of one’s mortality.