The Circular Flow Model Represents the Establishment of Market Value

question 38

Multiple Choice

The circular flow model represents the establishment of market value for:

• A) goods and services only.
• B) wages and salaries excluding goods and services.
• C) profits and rents but not for wages and salaries.
• D) profits and rents as well as wages and salaries.

---

Definitions:

Old Boys' Club

An informal system where the social connections among men, often from similar socio-economic and educational backgrounds, are used to gain professional advantages.

Informal Communication

The exchange of information and ideas in a casual, unstructured format, often within social networks or relationships rather than through official channels.

Paternity Leave

A period of absence from work granted to a father after or just before the birth of his child, allowing him to spend time with his newborn or newly adopted child.

Reduced Status

A situation in which an individual's rank or importance within a social or professional hierarchy is diminished.