Circular Flow Diagram

0.0(0)
studied byStudied by 0 people
full-widthCall with Kai
GameKnowt Play
learnLearn
examPractice Test
spaced repetitionSpaced Repetition
heart puzzleMatch
flashcardsFlashcards
Card Sorting

1/11

flashcard set

Earn XP

Description and Tags

AP Macroeconomics

Unit 1: Basic Economic Concepts

Study Analytics
Name
Mastery
Learn
Test
Matching
Spaced

No study sessions yet.

12 Terms

1
New cards
<p>What is number 3</p>

What is number 3

Market for Goods and Services

2
New cards
<p>What is number 1</p>

What is number 1

G&S bought (Private Property/Ownership)

3
New cards
<p>What is number 5</p>

What is number 5

Households

4
New cards
<p>What is number 4</p>

What is number 4

Labor

5
New cards
<p>What is number 7</p>

What is number 7

Markets for Factors for production

Land

Labor

Capital

Entreprenuership

6
New cards
<p>What is number 8</p>

What is number 8

Factor of production (Finished product)

7
New cards
<p>What is number 10</p>

What is number 10

Firms/Companies

8
New cards
<p>What is number 11</p>

What is number 11

Goods and Services sold (distribution)

9
New cards
<p>What is number 12</p>

What is number 12

Revenue

10
New cards
<p>What is number 9</p>

What is number 9

Wages rent profit (Factor Payment)

11
New cards
<p>What is number 6</p>

What is number 6

Income (wages)

12
New cards
<p>What is number 2</p>

What is number 2

Spending (consumption)