Focused discussions need to be detailed such that they demonstrate an increased,
ID: 408855 • Letter: F
Question
Focused discussions need to be detailed such that they demonstrate an increased, graduate level of understanding of the topics beyond the general discussions. Examples are also a good approach to do this.
1) Explain and discuss the differences and similarities between the circular flow and entrepreneurial profits by providing specific examples so that the differences and similarities are evident, and it is clear how businesses can be categorized as to whether they are earning entrepreneurial profits or part of the circular flow.
Explanation / Answer
Answer :-
Discussions can be an excellent strategy for enhancing student motivation, fostering intellectual agility, and encouraging democratic habits. They create opportunities for students to practice and sharpen a number of skills, including the ability to articulate and defend positions, consider different points of view, and enlist and evaluate evidence.
While discussions provide avenues for exploration and discovery, leading a discussion can be anxiety-producing: discussions are, by their nature, unpredictable, and require us as instructors to surrender a certain degree of control over the flow of information. Fortunately, careful planning can help us ensure that discussions are lively without being chaotic and exploratory without losing focus. When planning a discussion, it is helpful to consider not only cognitive, but also social/emotional, and physical factors that can either foster or inhibit the productive exchange of ideas.
Cognitive factors:
Social/emotional factors:
The circular flow of economic activity is a model showing the basic economic relationships within a marketeconomy. It illustrates the balance between injections and leakages in our economy. Half of the model includes injections, and half of the model includes leakages. The circular flow model shows where money goes and what it's exchanged for. The model includes households, businesses and governments. We also have the banking system that facilitates the exchange of money and, as we'll see in a minute, helps to productively turn savings into investment in order to grow the economy. In the circular flow of the economy, money is used to purchase goods and services. Goods and services flow through the economy in one direction while money flows in the opposite direction.
The factors of production include land, labor, capitaland entrepreneurship. The prices that correspond to these factors of production are rent, wages and profit. People in households buy goods and services from businesses in an attempt to satisfy their unlimited needs and wants. Households also sell their labor, land and capital in exchange for income that they use to buy goods and services that firms produce.Businesses sell goods and services to households, earning revenue and generating profits. Businesses also pay wages, interest and profits to households in return for the use of their factors of production.Governments levy taxes on households and businesses in order to provide certain benefits to everyone.