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Mic1:Circular Flow Formative

Last updated about 6 years ago

3 questions

1

1

1

Question 1

1.

Examine the image above. Real flow (1) to flow (2) represents

A: payment for goods and services

B: land, labor, capital, and entrepreneurial resources

C: goods and services

D: income, wages, rent, profit

Question 2

2.

Using the same image from above, real flow (3) to real flow (4) represents

A: payment for goods and services

B: land, labor, capital, and entrepreneurial resources

C: goods and services

D: income, wages, rent, and profit

Question 3

3.

Using the same image as before, which of the following would best describe real flows (5) to (6) and (7) to (8)?

A: goods and services

B: labor

C: investment

D: money