The Open Economy Circular Flow Model (Grade 12 NSC Matric Economics): Quizzes
📚Quizzes
Practise the questions
10 questions from this quiz
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Practise the questions
10 questions from this quiz
What makes an economy 'open' rather than closed?
What makes an economy 'open' rather than closed?
It includes trade with other countries
What type of income do households receive for providing labour as a factor of production?
What type of income do households receive for providing labour as a factor of production?
Wages
Which formula correctly represents total leakages in the circular flow model?
Which formula correctly represents total leakages in the circular flow model?
Which three components make up injections into the circular flow?
Which three components make up injections into the circular flow?
Investment, govt expenditure, exports
What condition indicates the economy is in equilibrium?
What condition indicates the economy is in equilibrium?
What happens to national income when injections exceed leakages ()?
What happens to national income when injections exceed leakages ()?
National income increases
Using , find Y if C=100, I=50, G=60, X=20, M=30 (R millions).
Using , find Y if C=100, I=50, G=60, X=20, M=30 (R millions).
R200 million
How do money flows and real flows move in relation to each other?
How do money flows and real flows move in relation to each other?
In opposite directions
Which market type includes the Johannesburg Stock Exchange?
Which market type includes the Johannesburg Stock Exchange?
Capital markets
What is traded in factor markets?
What is traded in factor markets?
Land, labour, capital, entrepreneurship