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Circular flow of income Flashcards | StudBud
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Circular flow of income
Circular flow of income
10 terms
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StudBud Administration
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#oureconomy #commerce #stage5
Flashcards
10 cards
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Questions
10
Answers
1
What are examples of economic resources of 'capital' used by firms?
Mining and farming
Machinery and technology
Human effort
Soil and forests
2
Which one of this is NOT one of Australia's largest imports?
Large companies (e.g. McDonalds)
Farming
Software
Cars
3
If injections are greater than leakages what will happen to the economy?
Decrease and experience economic decline
Crash - leading to recession
Nothing - the economy will remain the same
Expand and experience economic growth
4
What does the 'firm' sector provide to the 'household' sector?
Goods and services
Taxation
Exports and imports
Investment
5
Which one of these is NOT an example of expanding economic activity?
Increase in government spending
Increase in taxes
Increase in imports
Increase in investment
6
Select the option that defines the term 'leakage'
Bringing resources together
Reducing the flow of income in the economy
Putting money back into the economy
Influencing trade through imports and exports
7
If there is more money leaving the economy that entering the economy, what is going to happen?
Grow
Remain the same
Decline
Expand
8
What are economic resources?
Land, labour, capital and entrepreneurship
Imports and exports
Leakages and injections
Households and firms
9
Which one is NOT an example of an 'injection'?
Investment
Imports
Taxes
Government Spending
10
Which one of these is NOT one of Australia's largest exports?
Sheep
Cars
Farming
Mining
