An Overview of the Economy: The Circular Flow of Income (HSC SSCE Economics): Quizzes
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Practise the questions
10 questions from this quiz
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Practise the questions
10 questions from this quiz
How many main sectors does the circular flow model divide the economy into?
How many main sectors does the circular flow model divide the economy into?
Five sectors
Which of these is NOT a factor of production owned by individuals?
Which of these is NOT a factor of production owned by individuals?
Money
What form of income do individuals receive for supplying land?
What form of income do individuals receive for supplying land?
Rent
What is the main role of financial institutions in the economy?
What is the main role of financial institutions in the economy?
Act as intermediaries
Which acronym helps remember the three leakages from the circular flow?
Which acronym helps remember the three leakages from the circular flow?
STM
Which acronym helps remember the three injections into the circular flow?
Which acronym helps remember the three injections into the circular flow?
IGX
What is the equilibrium condition in the circular flow?
What is the equilibrium condition in the circular flow?
What happens when total leakages exceed total injections?
What happens when total leakages exceed total injections?
Economy contracts
What happens when total injections exceed total leakages?
What happens when total injections exceed total leakages?
Economy expands
How can government stimulate the economy?
How can government stimulate the economy?
Cut tax & boost spending