In economics, a circular flow model is a diagram that is used to represent the monetary transactions in an economy.
National income, output, and expenditure are generated by the activities of the two most vital parts of an economy, its households and firms, as they engage in mutually beneficial exchange.
Households
The primary economic function of households is to supply domestic firms with needed factors of production - land, human capital, real capital and enterprise. The factors are supplied by factor owners in return for a reward. Land is supplied by landowners, human capital by labor, real capital by capital owners (capitalists) and enterprise is provided by entrepreneurs.<span> Entrepreneurs combine the other three factors, and bear the risks associated with production.</span>
Answer:
Democracy produces an accountable government because it provides regular, free and fair elections regularly. ... Democracy gives its citizens the right to information about the government and its functioning. Democracy provides a responsive government as it is formed by elected representatives of the people.
It is termed as "Post formal thought".
Post formal thought includes understanding that the
right response to an issue requires intelligent reasoning and can change from
on circumstance to another, and that the look for truth is frequently a
continuous, ceaseless process. Post formal thought likewise incorporates the
conviction that answers for issues should be sensible, and that feelings and subjective
elements can impact thinking.
Answer:
Tobacco.
Explanation:
Although tobacco was the first, the other options were also very large in sales, called cash crops.
