circular flow of income quiz

Description

2016 CSEC Economics (Section 5 - Financial Sector) Quiz on circular flow of income quiz, created by Nikolas Reece on 29/04/2016.
Nikolas Reece
Quiz by Nikolas Reece, updated more than 1 year ago
Nikolas Reece
Created by Nikolas Reece over 8 years ago
381
9

Resource summary

Question 1

Question
Households are both owners of the factors of production as well as consumers of goods and services produced by firms.
Answer
  • True
  • False

Question 2

Question
Firms own and control the factors of production and produce goods and services for households to consume.
Answer
  • True
  • False

Question 3

Question
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.
Answer
  • Financial Sector, Withdrawal, Investment
  • Financial Sector, Injection, Investment
  • Financial Sector, Withdrawal,
  • Firms, Injection, Investment
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