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The board of directors consists entirely of personal friends of the chief executive officer.This indicates a weakness in
Product Market
The marketplace where final goods or services are offered to consumers, businesses, and the public sector.
Circular Flow Model
An economic model depicting the continuous, circular flow of goods, services, and money between households and businesses in an economy.
Households
Economic units consisting of all individuals who occupy a home, responsible for making consumption decisions.
Market System
In this model, the economic operations regarding investments, the scale of production, and the distribution strategy are guided by supply and demand laws, ensuring that the pricing of goods and services is freely determined through a system of unrestricted prices.
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Q153: Of the three fraud factors (situational pressure,ethics,and