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The Circular Flow Matrix (YouTube video: https://www.youtube.com

Authored by undefined Gayle

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12th Grade

Used 1+ times

The Circular Flow Matrix (YouTube video: https://www.youtube.com
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17 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the circular flow matrix or model?

A type of computer program used in market economies

A diagram showing how products, resources, and money flow in the economy

A type of currency used in international trade

A mathematical equation used to calculate GDP

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Where do businesses sell goods and services to households?

Product market

Resource market

Labor market

Stock market

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What are the four categories of resources in the circular flow matrix?

Food, Clothing, Shelter, Transportation

Gold, Silver, Bronze, Copper

Water, Air, Fire, Earth

Land, Labor, Capital, Entrepreneurship

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the term for the money households pay for goods and services in the product market?

Business spending

Investment spending

Government spending

Consumer spending

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What do businesses demand in the resource market?

Resources

Money

Goods and services

Labor

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What role does the government play in the circular flow matrix?

Buys goods and services, buys resources, provides public goods and services, taxes businesses and households

Produces goods and services, produces resources, provides public goods and services, gives loans to businesses and households

Sells goods and services, sells resources, provides private goods and services, gives subsidies to businesses and households

Imports goods and services, imports resources, provides public goods and services, gives grants to businesses and households

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the term for the money the government pays to businesses or households without receiving goods or services in return?

Subsidies

Welfare payments

Interest payments

Transfer payments

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