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Circular Flow Model

Authored by John Robinson

Social Studies

12th Grade

Used 1+ times

Circular Flow Model
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15 questions

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1.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Households and businesses __________ to the government in exchange for goods

pay taxes

earn income

earn revenue

pay expenditures

2.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

The circular flow model of a market economy shows

how profits are made

what inputs are required for what outputs

how many firms can support the needs of how many households

the interactions between households and  firms in the free market

3.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

In the circular flow model, consumption goods are bought and sold in the

product market

financial market

resource market

government market

4.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Media Image

What does box A represent on this Circular flow diagram?

Households

Businesses

Factor Market

Product Market

5.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Media Image

What does Box D represent on this Circular flow diagram?

Households

Businesses

Factor Market

Product Market

6.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Media Image

What does box C represent on the Circular Flow diagram?

Firm

Factor Market

Individual

Product Market

7.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Media Image

Which arrows represent the production and purchasing of goods and services/products in the product market on this circular flow diagram?

1, 3, 4, and 2

3, 5 7, and 6

Arrows 5, 6, 7, and 8

Arrows 2, 5, 7, and 4

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