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Circular Flow Review

Authored by Michelle Thomas

Social Studies

12th Grade

Used 186+ times

Circular Flow Review
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22 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

Someone buys a car in exchange for a large amount of money. They have completed an exchange in which part of the circuclar flow model?

Product Market

Factor Market

Firms

Individuals

2.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

Money earned by a firm when there is an exchange between an individual and a store for a good or service.

Revenue

Wages

Rent

Donation

3.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

What are the four main parts of the circular flow diagram?

Product Market, Stock Market, Factor Market, Fish Market

Product Market, House Market, Factor Market, Good Market

Factor Market, Product Market, Households, Firms

Factor Market, households, Stock Market, super market

4.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

What do businesses provide for consumers according to the circular flow model?

goods and services
only goods
only services
taxes

5.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

What do households provide to the resource market?

land, labor, capital 
money
people
income

6.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

In the circular flow model, the product market describes _____.

firms that sell goods and services to households

the government paying for public goods
households selling their labor to businesses
households receive income from businesses

7.

MULTIPLE CHOICE QUESTION

30 sec • 5 pts

Media Image

The exchange of money for goods/services to consumers is represented in which part of the circular flow diagram?

1 and 2

3 and 4

5 and 6

7 and 8

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