Circular Flow of Income

Circular Flow of Income

Professional Development

•

30 Qs

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Circular Flow of Income

Circular Flow of Income

Assessment

Quiz

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Social Studies

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Professional Development

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Practice Problem

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30 questions

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1.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Which statement is true about the circular flow diagram?

Households are demanders in the product market and suppliers in the factor market
Business are demanders in the product market and suppliers in the factor market.
Households are demanders in the factor market and suppliers in the product market.
 A  Businesses and households are not components of the circular flow diagram.

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

Which arrows on this diagram would represent the transaction between Joe who rents his office to Homework Inc., a company that provides tutoring services?

2,3
4,7
1,2
5,6

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

Arrows 4 and 7 on this circular flow diagram demonstrate

prices
taxes
goods and services flow
money flow

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

The arrows 1 to 2 in this diagram represent which aspect of the economy?

goods and services flow
money flow
taxes
factors of production

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Place where buyers and sellers meet to exchange goods and services for money

Market
Factor of production
Money
Interdependent

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

What is being represented by the "red flow line"

The flow of money
The flow of goods and services
Taxes
Productive resources

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

What is being represented by the "green flow lines"

Flow of Money
Flow of Goods and Services
Taxes
law

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