Circular Economic Flow

Point B represents

• Product Market

• Factor Market

• Businesses

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

What does point A represent on the Circular flow diagram?

• Households

• Product Market

• Factor Market

Where are factors of production (land, labor, etc) exchanged in the circular flow model?

• Factor Market

• Product Market

• Firms

Where do factors of production (land, labor, etc) come from in the circular flow model?

• Individuals

• Product Market

• Firms

In the circular flow diagram firms pay wages for which factor of production?

• Land

• Labor

What does point C represent on the Circular Flow diagram?

• Firm

• Factor Market

• Individual

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

The delivery of finished products for sale in exchange for revenue is represented in which arrows?

• 1 and 2

• 3 and 4

A person stocks shelves at a grocery store and receives a wage. They have completed an exchange in which part of the circular flow model?

• Individuals

• Businesss

• Factor Market