Micro 1
11th - 12th Grade
•38 Qs
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Micro 1
Quiz
•
Social Studies
•
11th - 12th Grade
•
Practice Problem
•
Medium
Hope Burke
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38 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Point B represents
Product Market
Factor Market
Individuals
Businesses
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What are the four main parts of the circular flow diagram?
Product Market, Stock Market, Factor Market, Fish Market
Product Market, House Market, Factor Market, Good Market
Factor Market, Product Market, Households, Firms
Factor Market, households, Stock Market, super market
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What does point A represent on the Circular flow diagram?
Households
Businesses
Factor Market
Product Market
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Where are factors of production (land, labor, etc) exchanged in the circular flow model?
Factor Market
Product Market
Firms
Individuals
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Where do factors of production (land, labor, etc) come from in the circular flow model?
Factor Market
Product Market
Firms
Individuals
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
In the circular flow diagram firms pay wages for which factor of production?
Land
Labor
Entrepreneurship
Raw materials
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What does point C represent on the Circular Flow diagram?
Firm
Factor Market
Individual
Product Market
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