Examlex
Which of the following statements best illustrates the relationship between the market for products and the market for resources?
Social Status
The position or rank of a person or group within the society, often determined by wealth, occupation, education, or family lineage.
Express Ratification
The explicit, formal approval or confirmation of an act or contract by the person who is bound by the act or contract, typically done after the act has been completed.
Implied Ratification
The tacit approval or acceptance of an act by behaving in a manner that assumes the act was properly authorized.
License
A permit from an authority to own or use something, do a particular thing, or carry on a trade.
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