In the Circular Flow Model,which of the Following Is on the Buying

question 73

Multiple Choice

In the circular flow model,which of the following is on the buying side in the goods market?
i.firms
ii.households
iii.federal,state,and local governments

• A) i only
• B) ii only
• C) iii only
• D) i and ii
• E) ii and iii

Understand the methodology and goals of psychology as a science.

Recognize the importance of behaviorism and its key proponents.

Understand the significance of introspection and its limitations in psychology.

Appreciate the contributions of significant minorities and women to psychology.

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Definitions:

Governing Unit

An organization or body that holds the authority to make decisions and regulations for a particular group or area.

Ethical Dimension

Refers to the moral aspects that arise in various contexts, guiding right or wrong behavior and practices.

Administrative Agencies

Governmental bodies with the authority to implement and enforce specific legislative acts through the creation of rules, regulations, and procedures.

Written Laws

Legal rules and regulations that are formally documented and established by legislative bodies.