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In the circular flow model,the factors of production flow in the
Real Estate Agent
A licensed professional who represents buyers or sellers in real estate transactions, facilitating the sale or lease of properties.
Express Agreement
A clear and unambiguous mutual understanding or contract between parties, typically in written or spoken form, regarding the terms of their arrangement.
Legal Rules
These are principles or directives enacted by a governing body that regulate behavior and are enforceable by the imposition of penalties for violations.
Commission
A fee paid to an agent or employee for transacting a sale, calculated as a percentage of the sale price.
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