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Biblioteka

Mic1: circular flow model, barter, functions of money

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Posljednje ažuriranje over 6 years ago
5
1
Pitanje 1
1.

Correctly place the items from the circular flow model above under the product or resource/factor market.

  • Business firms sell and households buy

  • Business firms pay the costs of production

  • Households earn income

  • Households buy goods/services

  • Business firms earn revenue

  • Business firms buy and households sell

  • Business firms buy resources

  • Product Market

  • Resource/Factor Market

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1
Pitanje 2
2.

The factor payments for land, labor, capital, and entrepreneurship respectively are:

Pitanje 3
3.

When you deposit $100 into a savings account at the bank to be used later, what function is money serving?

Pitanje 4
4.

When an advertisement says the new iphone 11 costs $1,000, what function is money serving?

Pitanje 5
5.

When you pay $20 to see the latest Marvel movie, what function is money serving?