Year 8 Circular Model Quiz Week 2

Year 8 Circular Model Quiz Week 2

8th Grade

20 Qs

quiz-placeholder

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Year 8 Circular Model Quiz Week 2

Year 8 Circular Model Quiz Week 2

Assessment

Quiz

Other

8th Grade

Practice Problem

Medium

Created by

Mandy-Jane Ellis

Used 37+ times

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20 questions

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1.

MULTIPLE SELECT QUESTION

45 sec • 1 pt

What does interdependence mean with regards to the circular flow?

It is a one-way relationship between two sectors

It is a two-way relationship between two sectors

It is when two sectors are reliant on one another

It is when one sector dominates another sector

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Decisions made in a market economy (free economy) are usually dominated by

Government

Financial Institutions

Households & Businesses

leakages and injections

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is sold in the labour market

Skills, Experience & Products

Experience, Skills & Knowledge

Experience, Knowledge & Goods

Goods and services

4.

MULTIPLE SELECT QUESTION

45 sec • 1 pt

Governments influence markets by

taxation

manipulating the value of the Australian Dollar

providing infrastructure

providing medical and education services

5.

MULTIPLE SELECT QUESTION

45 sec • 1 pt

What are the key questions in the economy?

How to produce

When to produce

What to produce

For whom to produce

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The law of supply says

As price increases the supply will increase

As price decreases the supply will increase

As price increases the supply will decrease

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The Law of Demand says

As price increases demand increases

As price increases demand decreases

As price decreases demand decreases

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