Microeconomics Quiz (SSEMI1 - SSEMI3)
Authored by Donna Kunkel
Social Studies
12th Grade
Used 79+ times
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25 questions
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1.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
How do individuals contribute to the circular flow of economic activity? (SSEMI1)
Business purchase productive resources in product markets.
Individuals provide labor for factor markets and buy goods in product markets.
Individuals buy productive resources from factor markets and provide labor for products markets.
Businesses purchase productive resources in product markets.
2.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
In the picture of the CFM, what market do individuals sell their labor? (SSEMI1)
Product Market
Demand Market
Government Market
Factor Market
3.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
In the Circular Flow model, where do firms sell their products? (SSEMI1)
factor markets
government markets
product markets
demand markets
4.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
Where do factors of production (land, labor, etc) come from in the circular flow model? (SSEMI1)
Factor Market
Product Market
Firms
Individuals
5.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
2 sector model showing how businesses & households interact (SSEMI1)
Circular Flow Diagram
Demand Curve
Supply Curve
Price Controls
6.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
A person who buys goods and services. (SSEMI2)
consumer
entrepreneur
resource
currency
7.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
How much people want something. (SSEMI2)
supply
demand
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