In the Circular Flow Model,there Are Two Types of Markets

question 95

Multiple Choice

In the circular flow model,there are two types of markets: the ________ market and the ________ market.

• A)service;goods
• B)goods;factor
• C)supply;demand
• D)households;firms
• E)producers;consumers

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Definitions:

Foot-in-the-Door Technique

A persuasion strategy that involves getting a person to agree to a small request to increase the chances they will agree to a larger request later.

Robber's Cave Experiment

A social psychology experiment that illustrated how conflict can arise between groups and be resolved through cooperative tasks that achieve mutual goals.

Us-Them Hostility

Us-Them Hostility refers to the negative attitudes and behaviors directed towards members of an out-group, reinforced by strong in-group loyalties.

Tendency to Conform

reflects the inclination of individuals to adopt the behaviors, attitudes, or values of their peers or society as a whole, often to gain acceptance or avoid social sanctions.