In the circular flow model, the market economy creates continuous, repetitive flows of goods and services, resources and money. In this model, households spend income in the product market. According to the circular flow model, households buy the goods and services that businesses make available in the product market. Moreover, In the circular flow model, businesses will buy resources from and sell products to households and other businesses. In this way: The function of businesses in the circular flow model is purchase resources and sell products.
The grant available to third- or fourth-year college students majoring in physical, life, or computer sciences is the SMART Grant.
Two grant programs based on need were created by The Higher Education Reconciliation Act of 2005 for complementing the <em>Federal Pell Grant Program</em>:
- The first is called ACG (Academic Competitiveness Grants). Undergraduates from first and second year who fulfilled a rigurous high school curriculum can be awarded with it.
- The second is called SMART (National Science and Mathematics Access to Retain Talent Grants). Undergraduates from third, fourth and fifth year majoring in technical fields, critical foreign languages, or who are part of a qualifying liberal arts program can be awarded with it.
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