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13 questions
The five sectors of the economy in the circular flow of income are...
business, financial injections, labour, imports
household, goods services, banks, business
business, consumption, exports, financial, government
household, business, financial, government, overseas
Apply your understanding of the circular flow of income model to identify the money flow which best describes the following transaction:
A shop assistant collects her weekly wage
Income
Economic resources
Consumption/Expenditure
Output/Goods and Services
Apply your understanding of the circular flow of income model to identify the money flow which best describes the following transaction:
A plastics firm installs a new moulding machine.
Income
Economic resources
Consumption/Expenditure
Output/Goods and Services
Apply your understanding of the circular flow of income model to identify the money flow which best describes the following transaction:
Fans buy meat pies at a football match.
Income
Economic resources
Consumption/Expenditure
Output/Goods and Services
Apply your understanding of the circular flow of income model to identify the money flow which best describes the following transaction:
Australian wheat growers sell grain to China.
Savings
Imports
Exports
Government Spending
Apply your understanding of the circular flow of income model to identify the money flow which best describes the following transaction:
A car enthusiast buys a vintage Rolls Royce from overseas.
Imports
Exports
Investments
Government Spending
Apply your understanding of the circular flow of income model to identify the money flow which best describes the following transaction:
An 80 year old woman collects her pension cheque (from the government).
Imports
Exports
Investments
Government Spending
Is the transaction below an injection or leakage of income from the Australian economy?
An individual decides to reduce their spending and save more of their income.
Injection
Leakage
Is the transaction below an injection or leakage of income from the Australian economy?
The state government has received tax revenue but has not yet decided what to spend the money on.
Injection
Leakage
Is the transaction below an injection or leakage of income from the Australian economy?
A business decides to borrow money from a bank to invest in new equipment that will increase its output.
Injection
Leakage
Is the transaction below an injection or leakage of income from the Australian economy?
An Australian mining company sells iron ore to a steel manufacturer in China.
Injection
Leakage
Is the transaction below an injection or leakage of income from the Australian economy?
An Australian electrical retailer decides to buy products from an overseas business.
Injection
Leakage
Is the transaction below an injection or leakage of income from the Australian economy?
The local government decides to spend money to build a skate park.
Injection
Leakage
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