In the Below Circular Flow Diagram,the Household and Business Sectors

question 22

Essay

In the below circular flow diagram,the household and business sectors are labelled with arrows representing the flows of income and output labelled (a)through (f)and the two appropriate markets labelled (g)and (h).Supply the correct descriptive titles for each of these labels (a)through (h).

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Definitions:

Representation

The act of speaking or acting on behalf of someone or something, often in legal, business, or political contexts.

Performance Potential

The capacity or capability of an individual or system to achieve and maintain high levels of performance, often in a specific context.

Express Warranty

An explicitly stated assurance by a seller that the goods or services offered meet certain quality or performance standards.

Factor

An element or component that contributes to or influences a situation, outcome, or process.