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Circluar flow activity , Cheat Sheet of Economics

Economics

Fun learning activity for your students to enjoy

Typology: Cheat Sheet

2020/2021

Uploaded on 04/30/2024

carmoni-walker
carmoni-walker 🇺🇸

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Name: ______________________________________________________ Date:
_______________ Block: ______________
Economics: Circular Flow Diagram Practice
https://www.youtube.com/watch?v=x_m8LzCcZH0
Part I: Follow these directions in this order to label diagram “ A ”
(use insert, text box, draw text box to label on diagram)
Diagram A
1. Label the PRODUCT MARKET
2. Label the RESOURCE MARKET
3. Label HOUSEHOLDS
4. Label BUSINESSES
5. Color the lines that represent the flow of money GREEN
6. Color the lines that represent the flow of resources or products RED
7. Label these 8 items in the correct location on the circular flow diagram:
PRODUCTIVE RESOURCES
(LAND, LABOR, CAPITAL,
ENTREPRENEURSHIP)
RENT, WAGES, INTEREST,
PROFIT
Part I: Follow these directions in order to label diagram “ A ”
1. Label the PRODUCT MARKET
2. Label the FACTOR MARKET
3. Label HOUSEHOLDS
4. Label BUSINESSES
5. Label the lines that represent the flow of money
6. Label the lines that represent the flow of resources or products
7. Label these 8 items in the correct location on the circular flow diagram:
RESOURCES EXPENDITURES (MONEY) REVENUE
INCOME PRODUCTS GOODS AND SERVICES
PRODUCTIVE RESOURCES
(LAND, LABOR, CAPITAL,
ENTREPRENEURSHIP)
RENT, WAGES, INTEREST,
PROFIT
pf3

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Download Circluar flow activity and more Cheat Sheet Economics in PDF only on Docsity!

Name: ______________________________________________________ Date:

_______________ Block: ______________

Economics: Circular Flow Diagram Practice

https://www.youtube.com/watch?v=x_m8LzCcZH

Part I: Follow these directions in this order to label diagram “A”

(use insert, text box, draw text box to label on diagram)

Diagram A

  1. Label the PRODUCT MARKET
  2. Label the RESOURCE MARKET
  3. Label HOUSEHOLDS
  4. Label BUSINESSES
  5. Color the lines that represent the flow of money GREEN
  6. Color the lines that represent the flow of resources or products RED
  7. Label these 8 items in the correct location on the circular flow diagram:  PRODUCTIVE RESOURCES (LAND, LABOR, CAPITAL, ENTREPRENEURSHIP)

 RENT, WAGES, INTEREST,

PROFIT

Part I: Follow these directions in order to label diagram “A”

  1. Label the PRODUCT MARKET
  2. Label the FACTOR MARKET
  3. Label HOUSEHOLDS
  4. Label BUSINESSES
  5. Label the lines that represent the flow of money
  6. Label the lines that represent the flow of resources or products
  7. Label these 8 items in the correct location on the circular flow diagram:  RESOURCES  EXPENDITURES (MONEY)  REVENUE  INCOME  PRODUCTS  GOODS AND SERVICES  PRODUCTIVE RESOURCES (LAND, LABOR, CAPITAL, ENTREPRENEURSHIP)

 RENT, WAGES, INTEREST,

PROFIT

Part II: Match the terms with their correct definition:

  1. ______ Income
  2. ______ Land, labor, capital, entrepreneurship
  3. ______ Expenditures
  4. ______ Rent, wages, interest, profit
  5. ______ Revenue
  6. ______ Product market
  7. ______ Factor Market
  8. ______ Households A. This is where businesses purchase the factors of production from households B. The factor payments for providing land, labor, capital or entrepreneurship C. A person or group of people living in the same residence D. This is where households purchase the goods and services that businesses produce E. The money households bring to the product market to exchange for products F. The factors of production that are used to produce all goods and services G. The money that businesses generate from selling their goods and services in the product market H. The money households make from selling the factors of production in the factor market

Part IIi: ANSWER THE FOLLOWING. write “P” for product market or

“f” for factor market:

  1. In which market would you receive a paycheck from working at Zaxby’s? _______
  2. In which market would Zaxby’s buy chicken to make its chicken sandwiches? __________
  3. In which market would Zaxby’s sell its chicken sandwich to you at lunch? _________
  4. In which market would you buy a chicken sandwich from Zaxby’s? ___________
  5. In which market would you find factor payments? ___________
  6. In which market do businesses purchase land, labor, capital or entrepreneurship from households?
  7. In which market do households provide land, labor, capital or entrepreneurship? _________