-Refer to the Circular Flow Model of the Economy

question 3

Multiple Choice

-Refer to the circular flow model of the economy.In the diagram flow (3) represents:

• A) wage,rent,interest,and profit income.
• B) land,labour,capital,and entrepreneurial ability.
• C) goods and services.
• D) consumer expenditures.

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Definitions:

Distributive Strategy

Approach used to decide how resources or rewards are shared or distributed among group members.

Conflict Management

The practice of identifying and addressing disputes in a fair, effective, and reasonable manner to prevent escalation.

Minor Problem

A relatively unimportant or trivial issue that does not have a significant impact on the overall situation or outcome.

Partner

Refers to a person who takes part in an undertaking with another or others, especially in a business or company with shared risks and profits.