Circular Flow of Income

Circular Flow of Income

Professional Development

30 Qs

quiz-placeholder

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Circular Flow of Income

Circular Flow of Income

Assessment

Quiz

Social Studies

Professional Development

Medium

Used 71+ times

FREE Resource

30 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

Which statement is true about the circular flow diagram?
Households are demanders in the product market and suppliers in the factor market
Business are demanders in the product market and suppliers in the factor market.
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.

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image
Which arrows on this diagram would represent the transaction between Joe who rents his office to Homework Inc., a company that provides tutoring services?
2,3
4,7
1,2
5,6

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image
Arrows 4 and 7 on this circular flow diagram demonstrate
prices
taxes
goods and services flow
money flow

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image
The arrows 1 to 2 in this diagram represent which aspect of the economy?
goods and services flow
money flow
taxes
factors of production

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Place where buyers and sellers meet to exchange goods and services for money
Market
Factor of production
Money
Interdependent

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image
What is being represented by the "red flow line"
The flow of money
The flow of goods and services
Taxes
Productive resources

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Media Image
What is being represented by the "green flow lines"
Flow of Money
Flow of Goods and Services
Taxes
law

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