Yr 8 Business Studies - Circular Flow

Households provide Firms with...

• Resources

• Goods

• Services

• Income

In terms of resources, what do households provide for businesses?

• Labour

• Loans

• Savings

• Taxes

What do Firms provide for households?

• Goods and Services

• Taxes

• Loans

• Savings

What do households provide for banks?

• Savings

• Taxes

• Loans

• Income

What do Banks provide firms?

• Investment

• Taxes

• Income

• Savings

Business's provide households with

• Income

• Taxes

• Resources

• Savings

In the circular flow model, the retail market describes _____

• stores that sell goods and services to households

• the government paying for public goods

• households selling their labour to businesses

• households receive income from businesses

A (a)   consists of producers, who make and sell goods and services; and consumers, who buy the goods and services.

The (a)   sector consists of all the consumers in the economy.

The (a)   sector consists of banks that allow households to deposit savings.