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