Circular Flow Model
Flashcard
•
Social Studies
•
12th Grade
•
Practice Problem
•
Hard
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10 questions
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1.
FLASHCARD QUESTION
Front
Businesses provide government with...
Back
taxes
2.
FLASHCARD QUESTION
Front
In terms of resources, what do households most likely provide for businesses?
Back
labor
3.
FLASHCARD QUESTION
Front
What are the five main parts of the circular flow diagram?
Back
Factor Market, Product Market, Households, Businesses, Government
4.
FLASHCARD QUESTION
Front
Where are factors of production (land, labor, etc) exchanged in the circular flow model?
Back
Factor Market
5.
FLASHCARD QUESTION
Front
Who provides the factors of production (land, labor, etc) in the circular flow model?
Back
Individuals/ households
6.
FLASHCARD QUESTION
Front
Someone buys a car in exchange for a large amount of money. They have completed an exchange in which part of the circular flow model? Options: Product Market, Factor Market, Firms/ businesses, Individuals/ households
Back
Product Market
7.
FLASHCARD QUESTION
Front
Money exchanged between an individual and a store for a good or service.
Back
Revenue
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