Circular Flow of Income - 2 Sector Model

Circular Flow of Income - 2 Sector Model

7th - 8th Grade

30 Qs

quiz-placeholder

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Circular Flow of Income - 2 Sector Model

Circular Flow of Income - 2 Sector Model

Assessment

Quiz

Business

7th - 8th Grade

Medium

Used 41+ times

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30 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

The Circular Flow of Income - 2 Sector Model has two stakeholders. Who are they?

Businesses & governments

Consumers and suppliers

Consumers and governments

Households and businesses

2.

FILL IN THE BLANK QUESTION

30 sec • 1 pt

True or False.

Consumers and Producers respond to and influence each other in the Circular Flow of Income Model of the economy?

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

The blue line (outer flow) of the Circular Flow of Income represents the flow of WHAT between Households and Businesses?

Income

Outputs

Consumption

Economic resources

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

What 'resource(s)' does the Business sector provide to Households?

Economic Resources (land, labour, capital, enterprise)

Outputs (goods and services)

Consumption

Income

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

The inner RED line represents the flow of 'what' within the economy?

Money

Resources

Workers

Spending

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does the Household sector provide to the Business sector?

Land

Labour (workers)

Capital (money)

All of the above

None of the above

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image

When a Household receives 'wages for labour' from the Business sector, this is called

Consumption spending

Economic resources

Outputs

Income

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