Circular Flow Of A Market Economy! Trivia Quiz
10 Questions
| Total Attempts: 9504
This quiz will test the knowledge acquired by students during the lecture periods focused on the circular flow of the market economy. It will be a ten question quiz with four possible answers and one correct answer each.
Questions and Answers
- 1.The two primary players in the circular flow model are:
- A.
People and Stores
- B.
Households and Businesses
- C.
Businesses and People
- D.
Households and Schools
- 2.What is the driving force behind the circular flow of the market economy?
- A.
Money
- B.
Reputation
- C.
Fame
- D.
Profits
- 3.What do businesses provide for the outside parties?
- A.
Goods
- B.
Money
- C.
Services
- D.
Goods and Services
- 4.What are the technical terms for the two main parties in the model?
- A.
Consumers and Factories
- B.
Producers and Consumers
- C.
Schools and Taxpayers
- D.
People and CEOs
- 5.What are the resources employed to produce goods and services?
- A.
Income Flow
- B.
Labor Market
- C.
Factors of Production
- D.
Total Working Factors
- 6.In the circular flow of a market economy, the working model assumes that three sectors of a normal economy do not exist. These are the financial sector, the overseas sector, and the _________ sector.
- A.
Judicial
- B.
Market
- C.
Government
- D.
Regulatory
- 7.The circular flow of a market economy also assumes that consumers spend all their money on goods, services, and consumptions. This means that there is no _________ on the part of the consumer.
- A.
Saving
- B.
Investing
- C.
Managing
- D.
Borrowing
- 8.Businesses provide a(n) _________ to households through employment.
- A.
Job
- B.
Product
- C.
House
- D.
Income
- 9.
- A.
Labor
- B.
Money
- C.
Government Policies
- D.
Economic Policies
- 10.The ___________ is where businesses buy the materials and labor needed to produce their product.
- A.
Material Market
- B.
Employment Market
- C.
Black Market
- D.
Resource Market
This is a quiz that will test your knowledge on the principal of circular flow.
Questions: 5 | Attempts: 282 | Last updated: Aug 8, 2018
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Sample QuestionWhich of the following is part of the circular flow diagram
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Sample QuestionAccording to theCircular Flow Model, there are how many sectors and marketswithin the economy?
This is a quiz that will test your knowledge on the principal of circular flow.
Questions: 5 | Attempts: 495 | Last updated: Aug 8, 2018
-
Sample QuestionWhich of the following is part of the circular flow diagram
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