Review Unit 3 Test

Review Unit 3 Test

12th Grade

30 Qs

quiz-placeholder

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Review Unit 3 Test

Review Unit 3 Test

Assessment

Quiz

others

12th Grade

Practice Problem

Hard

Created by

Shirley Earls

Used 3+ times

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30 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 3 pts

________________ are the owners of the productive resources (factors of production) in the circular flow model. They sell their land, labor, capital, and entrepreneurship in the _____________ ______________ in exchange for income payments.

Businesses/product market
Businesess/resource market
Households/product market
Households/resource market

2.

MULTIPLE CHOICE QUESTION

30 sec • 3 pts

________________ are the consumers of the productive resources (factors of production) in the circular flow model. They purchase the use of land, labor, capital, and entrepreneurship in the _____________ ______________ .

Businesses/product market
Businesess/resource market
Households/product market
Households/resource market

3.

MULTIPLE CHOICE QUESTION

30 sec • 3 pts

__________________ are the consumers of goods and services in the circular flow model. They spend the income they earn to buy goods and services in the _____________ ________________ .

Businesses/product market
Businesess/resource market
Households/product market
Households/resource market

4.

MULTIPLE CHOICE QUESTION

30 sec • 3 pts

__________________ are the consumers of goods and services in the circular flow model. They spend the income they earn to buy goods and services in the _____________ ________________ .

Businesses/product market
Businesess/resource market
Households/product market
Households/resource market

5.

MULTIPLE CHOICE QUESTION

30 sec • 3 pts

In the resource market, the payments for resources have specific names. Match the following resource to its payment type: land.

interest
wages
profit
rent

6.

MULTIPLE CHOICE QUESTION

30 sec • 3 pts

In the resource market, the payments for resources have specific names. Match the following resource to its payment type: labor.

interest
wages
profit
rent

7.

MULTIPLE CHOICE QUESTION

30 sec • 3 pts

In the resource market, the payments for resources have specific names. Match the following resource to its payment type: capital.

interest
wages
profit
rent

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