Label the Flows in the Simplified Circular Flow Diagram That

question 40

Essay

Label the flows in the simplified circular flow diagram that ignores the government.

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Definitions:

Conscientious Employees

Workers who are diligent, responsible, and committed to doing their work thoroughly and well.

Locus of Control

A person's belief about the extent to which their outcomes are due to their own actions versus external forces.

Internal Control

Processes and procedures implemented by an organization to ensure the integrity of financial and accounting information, promote accountability, and prevent fraud.

External Control

Refers to the belief that one's behavior and outcomes are influenced or dictated by external forces beyond one's personal control.