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Duplicate of Circular Flow Model Flashcards | StudBud
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Duplicate of Circular Flow Model
Duplicate of Circular Flow Model
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Circular Flow Model questions for AP Macroeconomics
Flashcards
8 cards
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Questions
8
Answers
1
An arrangement that brings buyers and sellers together to do business is:
a household
capitalism
free enterprise
a market
2
In exchange for final goods and services, firms receive __________ from Product Markets.
consumption
income
revenue
costs
3
In exchange for Public Goods and Services, Households pay:
revenue
income
expenditures
taxes
4
Borrowing and lending between nations is known as:
international trade
international finance
the global economy
global marketing
5
Land, labor, capital, and entrepreneurship are bought and sold in:
firms
product markets
households
factor markets
6
Identify number 2 in the model
factor market
households
product market
firms
7
Identify number 3 in the model:
factor market
firms
households
product market
8
Rent is paid by ________ to __________.
households to factor owners
product makers to households
product makers to firms
firms to resource owners