Examlex
A child is in the sensorimotor stage of cognitive development. If Piaget's model is correct, the child will next move to the ________ stage.
Circular-Flow Diagram
An illustrative depiction of the economy, highlighting the movement of currency among firms and households within different markets.
Goods and Services
Products and activities that fulfill the needs or desires of consumers, with goods being tangible objects and services being intangible activities.
Factors of Production
The inputs used to produce goods and services, typically classified into four main categories: land, labor, capital, and entrepreneurship.
Money
A medium of exchange that facilitates trade, serves as a unit of account, a store of value, and can be in the form of coins, notes, or electronic.
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