Based on the Circular Flow Model, Goods and Services Flow

question 108

Multiple Choice

Based on the circular flow model, goods and services flow from:

• A) households to businesses in product markets.
• B) businesses to households in product markets.
• C) households to businesses in factor markets.
• D) businesses to households in factor markets.

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Definitions:

Planned Change

A deliberate effort to modify processes, strategies, or structures within an organization to improve effectiveness.

Open Systems

A perspective in systems theory where any system continuously interacts with its environment and can adapt and evolve with changes.

Action Research

A participatory research method that involves taking action and reflecting upon the results to improve practices or address problems.

Client-Consultant Relationship

The professional interaction and dynamic between a consultant and their client, focusing on achieving specific objectives through advice and solutions.