Circular flow/Market Structures

Circular flow/Market Structures

12th Grade

15 Qs

quiz-placeholder

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Circular flow/Market Structures

Circular flow/Market Structures

Assessment

Quiz

Social Studies

12th Grade

Medium

Created by

JC Byland

Used 2+ times

FREE Resource

15 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

20 sec • 10 pts

In what market do businesses sell goods and services to households?

Product Market

Resource Market

Factor Market

2.

MULTIPLE CHOICE QUESTION

20 sec • 10 pts

In what market are the factors of production bought and sold?

Product Market

Factor/Resource Market

3.

MULTIPLE CHOICE QUESTION

20 sec • 10 pts

True or False- Businesses demand in the resource market and supply in the product market

True

False

4.

MULTIPLE CHOICE QUESTION

20 sec • 10 pts

In the circular flow diagram firms pay wages for which factor of production?

Land

Labor

Entrepreneurship

Raw Materials

5.

MULTIPLE CHOICE QUESTION

20 sec • 10 pts

A person stocks shelves at a grocery store and receives a wage. They have completed an exchange in which part of the circular flow model?

Individuals

Business

Factor Market

Product Market

6.

MULTIPLE CHOICE QUESTION

20 sec • 10 pts

Someone buys a car in exchange for a large amount of money. They have completed an exchange in which part of the circuclar flow model?

Product Market

Factor Market

Firms

Individuals

7.

MULTIPLE CHOICE QUESTION

10 sec • 10 pts

Goods and services are sold in the ___ market

Factor market

Product Market

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