CE.12d Quiz

Government use taxes to produce

• Leaders for the government

• Weapons for the military

• Public Goods and Services

• Television Commercials

The circular flow is made up of a continuous interaction of which three groups?

• Workers, government and transportation

• Homeowners, business owners, car dealers

• Factories, farmers, and workers

• Households, government, and businesses

Which of the following is a worker?

• Land

• Labor

• Capital

• Entrepreneurship

Which of the following describes a machine used to produce a product?

• Land

• Labor

• Capital

• Entrepreneurship

What do households receive from businesses?

• Capital

• Wages

• Dividends

• Rent

According to the circular flow model where can you buy and sell a haircut?

• The Resource Market

• The Product Market

• The Labor Market

• The Barber Shop

Which term completes this economic flow?

• Taxes

• Income

• Savings

• Investment

What does the government get from businesses and households?

• Captial

• Land

• Taxes

• Wages

Resources, goods and services, and money flow continuously among...

• households, businesses, and markets in the U.S. economy.

• businesses and markets in the U.S. economy

• entrepreneurs, suppliers, and the government in the U.S. economy.

In the economic/circular flow diagram, who owns the resources used in production, sells the resources, and uses income to purchase products?

• households

• businesses

• governments