Circular Flow Model
Flashcard
•
Social Studies
•
12th Grade
•
Hard
Wayground Content
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4 questions
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1.
FLASHCARD QUESTION
Front
Where do factors of production (land, labor, etc) come from in the circular flow model?
Back
Individuals
2.
FLASHCARD QUESTION
Front
Where are factors of production (land, labor, etc) exchanged in the circular flow model?
Back
Factor Market
3.
FLASHCARD QUESTION
Front
In the circular flow diagram firms pay wages for which factor of production?
Back
Labor
4.
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?
Back
Product Market
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