Circular Flow Of A Market Economy! Trivia Quiz
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Hey, do you think you have a good understanding of the economy? Can you pass this circular flow of a market economy trivia quiz that is given below? This quiz will test the knowledge acquired by you on the topic of the circular flow of the market economy. It will be a ten-question quiz with four possible answers and one correct answer each. Let's start the quiz and see how much score you can make this time. Good luck!
- 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.___________ is the driving force behind the production of goods and services.
- 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
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