Circular Flow
6 months ago
tremmick_31701
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13 QuestionsShow answers
  • Question 1
    30 seconds
    Q.

    Point B represents

    answer choices

    Product Market

    Factor Market

    Individuals

    Businesses

  • Question 2
    30 seconds
    Q.

    What are the four main parts of the circular flow diagram?

    answer choices

    Product Market, Stock Market, Factor Market, Fish Market

    Product Market, House Market, Factor Market, Good Market

    Factor Market, Product Market, Households, Firms

    Factor Market, households, Stock Market, super market

  • Question 3
    30 seconds
    Q.

    What does point A represent on the Circular flow diagram?

    answer choices

    Households

    Businesses

    Factor Market

    Product Market

  • Question 4
    30 seconds
    Q.

    Where are factors of production (land, labor, etc) exchanged in the circular flow model?

    answer choices

    Factor Market

    Product Market

    Firms

    Individuals

  • Question 5
    30 seconds
    Q.

    Where do factors of production (land, labor, etc) come from in the circular flow model?

    answer choices

    Factor Market

    Product Market

    Firms

    Individuals

  • Question 6
    30 seconds
    Q.

    In the circular flow diagram firms pay wages for which factor of production?

    answer choices

    Land

    Labor

    Entrepreneurship

    Raw materials

  • Question 7
    30 seconds
    Q.

    What does point C represent on the Circular Flow diagram?

    answer choices

    Firm

    Factor Market

    Individual

    Product Market

  • Question 8
    30 seconds
    Q.

    The exchange of money for goods/services to consumers is represented in which part of the circular flow diagram?

    answer choices

    1 and 2

    3 and 4

    5 and 6

    7 and 8

  • Question 9
    30 seconds
    Q.

    The delivery of finished products for sale in exchange for revenue is represented in which arrows?

    answer choices

    1 and 2

    3 and 4

    5 and 6

    7 and 8

  • Question 10
    30 seconds
    Q.

    A person stocks shelves at a grocery store and receives a wage. They have completed an exchange in which part of the circular flow model?

    answer choices

    Individuals

    Businesss

    Factor Market

    Product Market

  • Question 11
    30 seconds
    Q.

    Someone buys a car in exchange for a large amount of money. They have completed an exchange in which part of the circuclar flow model?

    answer choices

    Product Market

    Factor Market

    Firms

    Individuals

  • Question 12
    30 seconds
    Q.

    Money exchanged between businesses and individuals for labor.

    answer choices

    wages

    revenue

    spending

    profit

  • Question 13
    30 seconds
    Q.

    Money exchanged between an individual and a store for a good or service.

    answer choices

    Revenue

    Wages

    Rent

    Donation

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