Circular Flow Model

Front

Businesses provide government with...

Back

taxes

Front

In terms of resources, what do households most likely provide for businesses?

Back

labor

Front

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

Back

Factor Market, Product Market, Households, Businesses, Government

Front

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

Back

Factor Market

Front

Who provides the factors of production (land, labor, etc) in the circular flow model?

Back

Individuals/ households

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

Front

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

Back

Revenue

Front

Do business supply or demand from the product market?

Back

Supply

Front

Do individuals supply or demand from the product market?

Back

Demand

Front

Public sector is

Back

all government engagement in the economy