Circular Flow

What is in the product market?

• Land, Labor, Capital, Entrepreneurship

• Imports & Exports

• Goods & Services

• Laws & Regulations

What is in the Resource Market

• Land, Labor, Capital Entrepreneurship

• Imports & Exports

• Goods & Services

• Laws & Regulations

Who sells in the resource market?

• The Government

• Businesses & Firms

• Individuals & Households

• All of the above

Who sells in the product market?

• Government

• Businesses & Firms

• Individuals & Households

• All of the above

When an individual spends money (income), where does it go?

• Resource Market

• Product Market

• Government

• All of the above

When a business spends money (revenue), where does it go?

• Resource Market

• Product Market

• Government

• All of the above

Do businesses demand or supply?

• Demand

• Supply

• Both

• Neither

Do individuals demand or supply?

• Demand

• Supply

• Both

• Neither

Which is represented by '2'

• Individuals

• Businesses

• Product Market

• None of the above

What is '1'

• Spend Revenue

• Earn Revenue

• Earn Income

• Spend Income