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Resources, Circular Flow and Interdependence Flashcards | StudBud
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Resources, Circular Flow and Interdependence
Resources, Circular Flow and Interdependence
10 terms
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StudBud Administration
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390 plays
Basic economic concepts
Flashcards
10 cards
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Practice quiz
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Questions
10
Answers
1
Real flows are....
movements of cash
movements of goods and services
2
Rent is the factor reward for which resource?
Entrepreneurship
Labour
Capital
Land
3
Tomearns $200 for mowing lawns around his neighbourhood. Money flow is....
Spending
Service
Labour
Income
4
The basic Circular Flow Model has two sectors. They are.......
Households & Firms
Households & Govt.
Firms & Overseas
Firm & Govt.
5
Interdependence is.............
A two way reliance between sectors
One way reliance between sectors
When one sector relies on another
When you get your mum to pick you up after school
6
Kevin purchases a new ipodtouch for $450. Money flow is....
Labour
Goods & Services
Income
Spending
7
Producers rely on households for......
spending
labour
Income
goods and services
8
This is a picture of a ..........
Mazda Model T
Ford Model T
Tractor
Ford Model F
9
Households rely on producers for.....
labour
income
spending on goods and services
goods and services
10
Bradgets a job as a pizza delivery driver and gets paid $10.50 an hour. Real flow is...
Labour
Goods & Services
Income
Spending
