Macro Review

In a goods/ services market, __________ buy goods and services.

Circular flow shows how _________, money, _________ and services are exchanged between ____________ and consumers.

• goods, wants, businesses

• resources, goods, businesses

• objects, businesses, producers

In a resource market, __________ buy resources.

• people

• producers

• businessess

The circular flow model shows how _______ and _______ are interconnected.

• people, goods

• businesses, goods

• people, businesses

• businesses, services

True or false: When you put money into your bank account, it is called a deposit. ______

money paid to customers for keeping their money at the bank

• bank account

• withdrawal

• spending

• interest

True or false: Banks want to earn profit. _______

When borrowers spend money on goods and services in their community, they create _______ and ________ in that community

• jobs and loans

• jobs and income

• loans and income

• loans and interest

In addition to charging borrowers interest, banks also earn money by charging  _______ for various services.

• fees

• loans

• taxes

• income

There are _____ types of interest.

• 3

• 1

• 2

• 4