7th Grade Chapter 17 Review

Money flows to the business sector through the

Human capital can be improved if workers gain

GDP reflects the price of

The resources needed to produce goods and services are called

The government sector of the United States receives most of its revenues from

Where do people sell their labor?

Which of the following provides a service rather than a good?

GDP per capita is calculated by dividing a country’s GDP by its population.

What are the two main participants in the circular flow of economic activity?

Which of the following people is an entrepreneur?

Which of the following words describes the flow of economic activity in a market system?

The government can act as a consumer in the product market.

Payment to mow the family lawn is included in the GDP.

Prices in the United States are established by supply and demand in markets.

China has the world’s largest economy.