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In the Circular Flow Model,the Factors of Production Flow in the

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In the circular flow model,the factors of production flow in the


Definitions:

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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