Circular Flow

Front

In what market do businesses sell goods and services to households?

Back

Product Market

Front

In what market are the factors of production bought and sold?

Back

Factor/Resource Market

Front

In a free market economy who owns the resources?

Back

households

Front

Which of the following is an INCORRECT association of the factor payments?
land-rent,
labor- wages,
capital- interest,
entrepreneur- profit,
All are correct associations of the factor payments

Back

All are correct associations of the factor payments

Front

True or False- Businesses demand in the resource market and supply in the product market

Back

True

Front

The part of the economy ran by the government is called the....

Back

public sector

Front

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

Back

Labor

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?

Back

Factor Market

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?

Back

Product Market

Front

Goods and services are sold in the ___ market

Back

Product