Economics: Circular Flow

Front

Point B represents:

Product Market

,

Factor Market

,

Individuals

,

Businesses

Back

Businesses

Front

What does point A represent on the Circular flow diagram? Options: Households, Businesses, Factor Market, Product Market

Back

Product Market

Front

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

Back

Factor Market

Front

What does point C represent on the Circular Flow diagram? Options: Firm, Factor Market, Individual, Product Market

Back

Factor Market

Front

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? Options:

Individuals

,

Businesss

,

Factor Market

,

Product Market

Back

Factor Market

Front

Which part of the circular flow model involves buying a car in exchange for money?

Back

Product Market

Front

Money exchanged between businesses and individuals for labor.

Back

wages

Front

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

Back

Revenue

Front

What is being represented by the "red flow line"?

Back

The flow of goods and services

Front

In the circular flow model, what do individuals sell to the factor market?

Back

Productive Resources