1.6 Econ Formative

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1.6 Econ Formative

LT 1.6: I can identify and explain how the market economy works using a circular flow model. (3.3)

MUST get 4/5 on this quiz to pass!! Use your notes and retake as many times as needed!

First Name *

Last Name *

Class? *

Hour 1

Hour 2

Hour 3

Hour 4

Hour 5

Question 1: Fill in the blank!

Answers 1 *

1 point

Question 2: Fill in the blank!

Answers 2 *

1 point

Question 3: Identify the flow from businesses to households in the market for unfinished goods

Answers 3 *

1 point

Question 4: Identify the flow from businesses to households in the market for finished goods

Answers 4 *

1 point

Question 5 *

In the circular flow model, what would be an example of a transaction in the product market?

1 point

A. Starbucks increases their inventory of coffee beans.

B. Best Buy pays issues paychecks to their employees.

C. FedEx purchases new delivery trucks.

D. Cub Foods accepts a check from someone buying groceries.

Self-assessment: How well do you know the content on this quiz? *

I guessed on every answer

I knew every answer- didn't even have to use my notes!

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