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The simple circular flow model shows that workers and capital-owners offer their services to firms through the:
Schooling
The process of being educated formally in an institution like a school, focusing on acquiring knowledge and skills.
Familism
A cultural value that emphasizes the importance of family ties, loyalty, and the prioritization of family well-being over individual needs.
Individual Well-being
The overall physical, mental, and emotional health status of an individual.
Emancipation
The legal process or condition through which a minor gains the rights and status of legal adulthood, often freeing them from parental control and allowing them to manage their own affairs.
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