Microeconomics Circular Flow Diagram

Microeconomics Circular Flow Diagram

12th Grade

15 Qs

quiz-placeholder

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Microeconomics Circular Flow Diagram

Microeconomics Circular Flow Diagram

Assessment

Quiz

Social Studies

12th Grade

Hard

Created by

John Robinson

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15 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Media Image

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

5 and 6

3 and 4

4 and 5

7 and 8

2.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

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?

Households

Factor market

Product market

Firms

3.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

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?

Households

Factor Market

Firms

Product Market

4.

MULTIPLE SELECT QUESTION

1 min • 1 pt

Where does the exchange of the 4 factors of production take place?

The product market

The resource market

The factor market

Firms

5.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

What model shows how products, resources, and money flow in the economy?

Circular flow model

aggregate model

GDP output expenditure model

the Cobb-Douglas production function

6.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

In what market do businesses sell goods and services to households?

Product Market

Factor Market

Resource Market

None of the above

7.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Media Image

Businesses provide government with...

taxes

sales

private goods & services

interest

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