Hernando de Soto, the Spanish conquistador.
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The statement that best explains how a free-market system has a circular flow of influences is that consumer decisions affect producers, and producer decisions affect consumers.
<u>Explanation:
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- In a free-market, the needs and wants registered by the potential customer is considered as demand.
- This demand, along with some other factors related to feasibility, governs the supply of products that come into the market.
- The customers, in turn, have to choose from what the producer has offered.
- Hence, the cycle of consumer and producer decisions affecting each other continues.
People can make the best use of ideas,opinions, nature to create more resources when they have the knowledge skill and technology to do so.this is why people are a resource it is the ability of humans to help in transferring a physically material into a valuable resource at any given notice.
the process of learning to behave in a way that is acceptable to society.
