Circular Flow and PPC Unit 1 K

Front

What do the households provide businesses? Options: Labour, Wages, Resources, Goods and services

Back

Resources

Front

In the products market, what do firms do?

Back

Firms sell goods and services to households.

Front

What is being represented by the "green flow lines"?

Back

Flow of Money

Front

What is being represented by the "red flow line"?

Back

The flow of goods and services

Front

What do businesses provide for consumers according to the circular flow model?

Back

goods and services

Front

In the circular flow model, the product market describes _____?

Back

stores that sell goods and services to households

Front

What graphically shows the opportunity cost of producing one more unit of one good in terms of the amount of the other good that must be given up?

Back

Production Possibilities Curve

Front

According to economics, which of the following could be your opportunity cost of taking this Quizizz?
Options:
Working on an assignment for another class,
The benefit of reviewing for the test,
All activities you could choose to do instead,
The money taxpayers spent on your education,
All of the above

Back

Working on an assignment for another class

Front

What is the fundamental problem of every society? Options: labor costs, scarcity, economic interdependence, market fluctuation

Back

scarcity

Front

The table shows the production possibilities for a country. Based on the table, which of the following production combinations is a possibility? 28 pizzas and 5 pairs of shoes, 3 pairs of shoes and 23 pizzas, 2 pairs of shoes and 20 pizzas, 4 pairs of shoes and 15 pizzas

Back

2 pairs of shoes and 20 pizzas