Quiz by Nikolas Reece, created more than 1 year ago

2016 CSEC Economics (Section 5 - Financial Sector) Quiz on circular flow of income quiz, created by Nikolas Reece on 29/04/2016.

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	Created by Nikolas Reece about 8 years ago

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circular flow of income quiz

Question 1 of 3

1

Households are both owners of the factors of production as well as consumers of goods and services produced by firms.

Select one of the following:

True
False

Explanation

Question 2 of 3

1

Firms own and control the factors of production and produce goods and services for households to consume.

Select one of the following:

True
False

Explanation

Question 3 of 3

1

Firms borrow $5m from commercial banks in order to purchase new machinery for production. Select the appropriate sector, money flow and description this item would fall under in the CFI.

Select one of the following:

Financial Sector, Withdrawal, Investment
Financial Sector, Injection, Investment
Financial Sector, Withdrawal,
Firms, Injection, Investment

Explanation