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WorksheetsCircular Flow Model Review
Total questions: 15
Worksheet time: 5mins
What do households provide to the resource market?
land, labor, capital, and entrepreneurship
money
people
income
What does government provide with the revenue it takes in from taxes?
Headaches
Public goods and services
More Congressmen
Greater control of the media
The missing label in the CFI diagram is...?
Government Sector
Financial Sector
Households
Firms
This diagram is called a:
Production Possibilities Curve
Supply and Demand Curve
Circular Flow Model
Circular Motion Equation
This circular flow model would be for a __________ economy
Traditional
Planned/Command
Free Market
Mixed Economy
This circular flow model would be for a __________ economy
Traditional
Planned/Command
Free Market
Mixed Economy
Economic activity is best described as any activity which:
results in the production of essential goods and services
enables goods and services to be sold for a profit
provides those goods and services which satisfy our wants
allows the replacement of worn out products
Recent improvements in technology in Australia have:
educed our wants since products are now of a higher quality
increased our capacity to produce more goods and services
resulted in improved employment opportunities
resulted in lower living standards as resources become depleted
