Two basic types of markets exist in any market economy: resource markets and product markets. The exchanges that take place in these markets benefit both the households and the firms that engage in exchanges. This lesson will introduce the circular flow of money, resources and goods and services in a market economy.
Chemical contamination is when chemicals from industries or harmful sprays in farming get washed off into bodies of water.
The Social Cognitive Model of change is based on the interplay of three components (social environment, ideas and feelings, and behaviors).
The Social Cognitive Model/Theory states that these are the important factors that influence the behaviour of the individual.
Social Cognitive Model/Theory
- This theory explains the behaviour of the individual with respect to the social environment, personal as well as actions and experiences of others.
- Each behaviour actually helps in influencing the way of thinking as it is resulted because of the social environment as well as the responses of the others.
- In simple words we can say that it is learning theory and out of the four factors, emotions of the individual are considered as the pre determinant of behaviour as well as emotions.
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