In the Circular Flow Model,the Factor Markets Are the Markets

question 55

Multiple Choice

In the circular flow model,the factor markets are the markets in which

• A)governments impose all their taxes.
• B)land,labour,capital and entrepreneurship are bought and sold.
• C)investment goods and services are bought and sold.
• D)government goods and services are provided.
• E)consumption goods and services are bought and sold.

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Definitions:

Weber

Max Weber, a German sociologist, philosopher, and political economist known for his theories on the structure of society, bureaucracy, and the nature of authority.

Status Attainment Model

A sociological perspective that explains an individual's position within society based on educational achievement, occupational status, and other factors.

Blau and Duncan

Sociologists who developed the Blau-Duncan model, which outlines the structural factors influencing occupational mobility and stratification in society.

Subsequent Research

Investigations or studies conducted after a preliminary study, to further explore a subject or hypothesis.