Unit 4 Economics Lesson 3

Trading goods and services for other goods and services or money

• Circular Flow

• Exchange

• Income

Money people make working at a job

• Circular Flow

• Exchange

• Income

The pattern in a marketplace (describes how goods, services, and resources flow)

• Circular Flow

• Exchange

• Income

What are the two different markets in the circular flow chart?

• Goods/Services and Resources

• Households and Businesses

• Exchange and Income

Who are the two decision makers in the circular flow chart?

• Goods/Services and Resources

• Households/individuals and Businesses

• Exchange and Income

The circular flow chart helps us visualize the way _____ moves in a market economy.

• money

• business

• person

• exchange

In the Market for Resources, what are the three types of resources businesses need...

• Human Resources

• Natural Resources

• Capital Resources