GWC N5 Economics Circular Flow 1

This occurs when there is an increase in total output of goods and services over a one year period of time using the same or fewer resources.

• National Income
• Econmic Growth
• Circular Flow of Income

This is the value of all goods and services produced in the economy in a year. It measures the economic performance of a country.

• National Income
• Econmic Growth
• Circular Flow of Income

The movement of expenditure, income and output around the economy.

• National Income
• Econmic Growth
• Circular Flow of Income

Which is not a reward to the factor inputs?

• Rent
• Wages
• Savings
• Interest
• Profit

Which is not a leakage from the circular flow?

• Savings
• Consumption
• Taxation
• Imports

Which is an inflow to the circular flow?

• Governement spending
• Savings
• Taxation
• Imports
• Exports

I am the money spent by overseas firms and individuals on British goods

• Exports

• Imports

• Taxation

I am the amount of revenue collected from central and local government

• Savings
• Investments
• Taxation
• Exports

This category is given to withdrawals of money from the circular flow diagram

• Injections
• Leakages

This is spending by firms, normally on capital goods e.g. machinery

• Investments
• Savings
• Consumption