Economic Flow Chart

Which of the following do households provide businesses?

• Labor
• Taxes
• Goods and Services
• Final Products

What is an example of a service the government might provide households?

• Post Office
• Dry Cleaner
• Food Delivery
• None of these

What are the four types of economies?

• command, demand, capitalist, communism
• traditional, command, market, mixed
• mixed, market, traditional, primary
• None of the above 

The "invisible hand" described by Adam Smith, only works in this type of economy

• command
• market
• planned
• traditional

In a command economy, the government

• encourages entrepeneurs
• controls basic industries
• allows business many freedoms 
• protects private property

in the circular flow model, money flows

• one way and business revenue another
• one way and products flow another
• the same way as goods and services
• same way as productive resources

What do businesses provide households?

• Taxes
• Goods and Services
• Capital
• Resouces

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

In the product market

• firms buy goods from households
• firms sell goods to households
• firms sell resources to households
• firms buy resources from households

In the resource market

• firms buy goods from households
• firms sell goods to households
• firms buy resources from households
• firms sell goods to households