Economics Check for Understanding

What do businesses buy from households?

• Money

• Goods & Services

• Resources

What do households buy from businesses?

• Money

• Resources

• Goods & Services

Households sell their labor in exchange for what?

• Goods & Services

• Paycheck

• Resources

What does the government collect from households and businesses?

• Goods & Services

• Taxes

• Resources

What does the government use tax revenue to provide to households and businesses?

• Goods & Services

• Resources

• Income

• Public Goods & Services

How do banks encourage people to save money?

• Dividends

• Bonds

• Interest

Money and resources continuously flow in a circular way between all of the following EXCEPT...

• Households

• Government

• Businesses

• Public Goods & Services

Please list two examples of a public good or service.

What is the fancy word for a bank?

• Savings & Loans

• Financial Institutions

• Credit Unions

Which of the following is not a type of tax you learned yesterday?

• Income

• Sales

• Laundry

• Property