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:

Social Alliances

Relations or partnerships formed between individuals or groups for mutual benefit or to achieve common goals.

Highly Stereotyped

Referring to actions or behaviors that are very predictable and lack variation.

New Shelters

Structures or locations designated as places of safety or refuge, commonly used to refer to housing solutions for the homeless or victims of disasters.

Smiling Behavior

Smiling behavior involves the upward curvature of the mouth, which is universally recognized as an expression of happiness, friendliness, or amusement.