GWC N5 Economics Circular Flow 2

GWC N5 Economics Circular Flow 2

10th Grade

11 Qs

quiz-placeholder

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GWC N5 Economics Circular Flow 2

GWC N5 Economics Circular Flow 2

Assessment

Quiz

Other

10th Grade

Hard

Created by

Joanne Arneil

FREE Resource

11 questions

Show all answers

1.

MULTIPLE SELECT QUESTION

30 sec • 1 pt

The return for labour is wages. The return for land is ______ and the return for capital is ______.

rent, interest

interest, rent

profit, rent

interest, profit

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following reflects the return to households for providing resources to firms?

resources from the household sector to the business sector

production from the business sector to the household sector

incomes paid to households from the business sector

spending (or expenditure) from the household sector to the business sector

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Savings (S), Taxes (T) and Import spending (M) added together are known as:

Injections

Leakages

levels of AD

None of the above

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Disposable income is calculated by

Total income - total spending

Total income - income tax

Total income + bonuses and commissions

Total incomes - saving

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

An increase in the level of leakages in an economy tend to have what effect on the economy?

It tends to slow levels of consumption spending leading to more employment opportunities

It tends to slow levels of consumption spending leading to less employment opportunities

It tends to increase levels of consumption spending leading to more employment opportunities

It tends to increase levels of consumption spending leading to less employment opportunities

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following statements is INCORRECT about import spending?

Import spending slows levels of consumption spending

Import spending can rise if household incomes rise

Import spending helps to grow another nation's economic growth

Import spending can help to grow the UK economy

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Injections act as an accelerator to the economy because it

includes levels of government spending

includes levels of export spending

includes levels of private business investment

all of the above

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