With Reference to the Circular Flow of Income,how Is the Allocation

question 17

Multiple Choice

With reference to the circular flow of income,how is the allocation of resources largely decided?

• A)by central authorities only
• B)by central authorities and firms only
• C)by firms and households acting independently
• D)by political parties and firms only
• E)by individuals only

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Definitions:

Gustatory Cortex

Brain region involved in the perception of taste.

Medulla Oblongata

A part of the brainstem crucial for controlling autonomic functions such as breathing, heart rate, and blood pressure.

Ethmoid Bone

A spongy, cubical bone at the root of the nose that separates the nasal cavity from the brain, part of the cranium.

Olfactory Bulbs

Structures located at the base of the brain's frontal lobes, involved in the processing of odors.