The Circular Flow Model Demonstrates

question 194

Multiple Choice

The circular flow model demonstrates

• A)the role of the government in overseeing the market system.
• B)the roles played by households and firms in the market system.
• C)how shortages and surpluses are eliminated in a market.
• D)how demand and supply for goods and services are brought into equilibrium.

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Definitions:

Ethical

Pertaining to or dealing with morals, principles of morality and judgments of right and wrong behavior.

Welfare

relates to the health, prosperity, and happiness of individuals or communities, often considered in the context of social support and services.

Normalization

The process of making something conform to a standard or a typical state or condition.

Nursing Intervention

Actions taken by a nurse to enhance patient outcomes, including monitoring health conditions, administering medications, and providing education.