Dan Missed Class the Day His Lecturer Covered the Circular

question 34

Multiple Choice

Dan missed class the day his lecturer covered the circular flow model.Dan asked his friend Joan to explain markets to him.Joan correctly stated that a market

• A)requires a physical location for buyers and sellers to get together.
• B)must have many buyers and only one seller,who is willing to sell to all the buyers.
• C)is any arrangement that brings buyers and sellers together.
• D)must include a written contract between buyers and sellers.
• E)is only a place to purchase groceries.

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Definitions:

Instinct

is an innate, typically fixed pattern of behavior in animals in response to certain stimuli.

Herbert Spencer

A 19th-century English philosopher, biologist, and sociologist who contributed to the development of social Darwinism, emphasizing survival of the fittest in human society.

Darwin's Ideas

Refers to Charles Darwin's theories, particularly on natural selection and evolution, explaining the diversity of life on Earth.

World War II

A global conflict that took place from 1939 to 1945, involving most of the world's nations and resulting in significant military and civilian casualties.