Reteach circular flow assessment

Front

What are the four main parts of the circular flow diagram? Options: Product Market, Stock Market, Factor Market, Fish Market; Product Market, House Market, Factor Market, Good Market; Factor Market, Product Market, Households, Firms; Factor Market, households, Stock Market, super market

Back

Factor Market, Product Market, Households, Firms

Front

What does point A represent on the Circular flow diagram?

Back

Product Market

Front

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

Back

Factor Market

Front

What does point C represent on the Circular Flow diagram? Options: Firm, Factor Market, Individual, Product Market

Back

Factor Market

Front

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

Back

3 and 4

Front

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?

Back

Factor Market

Front

Which statement is true about the circular flow diagram? Options: A  Households are demanders in the product market and suppliers in the factor market, A  Business are demanders in the product market and suppliers in the factor market., A  Households are demanders in the factor market and suppliers in the product market.,  A  Businesses and households are not components of the circular flow diagram.

Back

A  Households are demanders in the product market and suppliers in the factor market

Front

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

Back

the interactions between households and firms in the free market

Front

What do households sell?

Back

Factors of Production

Front

What do businesses sell?

Back

Goods & Services