In the Circular Flow Model, Households Demand Resources Such as Labour

question 148

True/False

In the circular flow model, households demand resources such as labour services in the product market.

---

Definitions:

Activation-synthesis Hypothesis

A theory suggesting that dreams result from the brain's attempts to make sense of random neural activity that occurs during sleep, specifically during the REM phase.

Freudian

Relating to or influenced by the ideas and works of Sigmund Freud, particularly concerning the unconscious mind, psychosexual stages, and defense mechanisms.

Jungian

Jungian pertains to the theories and methodologies related to the psychology of Carl Jung, emphasizing concepts like the collective unconscious and archetypes.

Evolutionary

Pertaining to evolution; involving gradual changes in species over generations through natural selection and genetic variation.