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Use the Idea of the Circular Flow Diagram to Explain

question 88

Essay

Use the idea of the circular flow diagram to explain why the value of production equals total income equals total expenditure.


Definitions:

Margaret Floy Washburn

An eminent early American psychologist known for her work in animal behavior and motor theory development.

William James

A pioneering American psychologist and philosopher recognized for his contributions to psychology and education.

Introspection

The examination of one's own thoughts and feelings.

Sensory Experiences

Interactions with the environment that involve the stimulation of the senses, contributing to perception and learning.

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