The Circular Flow Model

question 136

Multiple Choice

The circular flow model

• A)measures identical flows through the different markets
• B)shows how firms maximize profits and minimize costs
• C)shows how competitive markets interact with noncompetitive markets
• D)measures the value of income earned by the public sector
• E)measures the value added by the business sector as it uses funds

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Definitions:

White Colonialism

An extension of colonialism driven by European nations and settlers that often involved the subjugation and exploitation of non-white peoples and their lands, distinguished by racial motivations and justifications.

Emancipated

Refers to being freed from legal, social, or political restrictions; commonly used in historical contexts to describe the freeing of slaves.

African Slaves

Individuals from Africa who were forcefully transported to and enslaved in various parts of the world, especially in the Americas, from the 16th to the 19th centuries.

Jim Crow

Laws and practices enforcing racial segregation and discrimination against African Americans, particularly in the southern United States, from the late 19th century to the mid-20th century.