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In the circular flow model,the expenditures on goods and services flow in the
Social Contract
A philosophical theory or model that originates from the Age of Enlightenment, positing that individuals have consented, either explicitly or tacitly, to surrender some of their freedoms and submit to an authority in exchange for protection of their remaining rights.
Rawlsian Justice
A theory of justice that emphasizes fairness and equality, proposing principles to structure society for the benefit of all, especially the least advantaged.
Public Good
A commodity or service that is provided without profit to all members of a society, either by the government or a private individual or organization.
Moral Obligation
A commitment or duty to act in a morally sound manner, often beyond legal requirements, guided by personal ethics or conscience.
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