The ______ Model Proposes That Change Is Possible at Any

question 20

Short Answer

The ______ model proposes that change is possible at any point in development,but also can be limited by previous adaptations.

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Definitions:

Profit Income

The financial gain that results when the revenue from business activities exceeds the expenses, costs, and taxes involved in sustaining the activity.

Market System

In this economic framework, the determination of investment, production, and distribution is influenced by the market signals emanating from the interplay of supply and demand.

Economic System

The mechanism or set of processes by which a society organizes and distributes its resources, goods, and services.

Factors Of Production

The four economic resources: land, labor, capital, and entrepreneurial ability.