Unit 2 Day 3 Questions

Front

Point B represents

Back

Businesses

Front

What does point A represent on the Circular flow diagram?

Back

Product Market

Front

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

Back

Factor Market

Front

What does point C represent on the Circular Flow diagram?

Back

Factor Market

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

Money exchanged between businesses and individuals for labor.

Back

wages

Front

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

Back

Revenue

Front

What is being represented by the "red flow line"? Options: The flow of money, The flow of goods and services, Taxes, Productive resources

Back

The flow of goods and services

Front

In the circular flow model, what do individuals sell to the factor market? Options: Services, Money, Productive Resources, goods

Back

Productive Resources