CE 12D : Circular Flow of Economics

Front

Government use taxes to produce

Back

Public Goods and Services

Front

Who pays for the government taxes? Options: Workers (labor), Homeowners/business owners (land), Consumers (you)

Back

All of the above

Front

The circular flow is made up of a continuous interaction of which three groups?

Back

Households, government, and businesses

Front

Liability can be best described as

Back

The risk involved in business

Front

Which of the following is a worker? Land, Labor, Capital, Entrepreneurship

Back

Labor

Front

Which of the following describes a machine used to produce a product? Land, Labor, Capital, Entrepreneurship

Back

Capital

Front

What do households receive from businesses?

Back

Wages

Front

According to the circular flow model where can you buy and sell a haircut?

Back

The Product Market

Front

Which term completes this economic flow? Taxes, Income, Savings, Investment

Back

Income

Front

What does the government get from businesses and households?

Back

Taxes