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Mic1:Circular Flow Formative
By Jeffrey See
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Last updated over 6 years ago
3 questions
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Question 1
1.
Question 2
2.
Question 3
3.
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
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
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
