Circular flow of income (OCR A-Level Economics): Quizzes
📚Quizzes
Practise the questions
12 questions from this quiz
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Practise the questions
12 questions from this quiz
What are leakages in the circular flow of income?
What are leakages in the circular flow of income?
Money flowing out of the circular flow
What are injections in the circular flow of income?
What are injections in the circular flow of income?
Money flowing into the circular flow
What is Gross Domestic Product (GDP)?
What is Gross Domestic Product (GDP)?
Total economic activity in an economy
How many economic agents are in the simplified circular flow model?
How many economic agents are in the simplified circular flow model?
2
Which of these is a factor of production that households provide to firms?
Which of these is a factor of production that households provide to firms?
Labour
Which of the following is income received by households from firms?
Which of the following is income received by households from firms?
Wages
Which of these is a leakage from the circular flow of income?
Which of these is a leakage from the circular flow of income?
Savings
Which of these is an injection into the circular flow of income?
Which of these is an injection into the circular flow of income?
Government expenditure
Which of these represents an injection into the circular flow?
Which of these represents an injection into the circular flow?
Export expenditure
How many methods are there to measure GDP?
How many methods are there to measure GDP?
3
What does the output method of measuring GDP calculate?
What does the output method of measuring GDP calculate?
Total value of goods and services produced
What is the relationship between the three methods of measuring GDP?
What is the relationship between the three methods of measuring GDP?
Output = income = expenditure