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:

Power And Authority

Refers to the capacity to influence or control others' actions and the legitimate right to make decisions, respectively.

Ideal Self

The way you would like to be or plan to become.

Instrumental Values

Values that act as means to an end, guiding behavior towards achieving certain goals or desirable states.

Terminal Values

Core life goals or end states of existence that an individual strives to achieve, such as happiness, personal fulfillment, and peace.