Circular Flow Review

Front

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

Back

Product Market

Front

In what market are the factors of production bought and sold?

Back

Factor/Resource Market

Front

Someone buys a car in exchange for a large amount of money. They have completed an exchange in which part of the circular flow model?

Back

Product Market

Front

In the product market, who are the sellers and who are the buyers?

Back

Sellers are businesses and buyers are households.

Front

What does the circular flow model in economics illustrate?

Back

The flow of resources and products in exchange for money

Front

In the factor market, __________ sell factors of production.

Back

households

Front

In the product market, __________ sell goods and services.

Back

businesses

Front

What do the households provide businesses? (Options: Labour, Wages, Resources, Goods and services)

Back

Resources

Front

What is being represented by the "green flow lines"? Options: Flow of Money, Flow of Goods and Services

Back

Flow of Money

Front

What is being represented by the "red flow line"? Options: The flow of money, The flow of goods and services

Back

The flow of goods and services