A b. Refer to Figure 2 1 Which arrow represents the flow of goods and services a A b, 48 out of 48 people found this document helpful. Refer to Figure 2-1. c Which arrow shows the flow of spending by households? Refer to Figure 2-12. Which arrow represents the flow of goods and services? Social Studies. businesses purchase what they use to produce goods and services. On Friday of that week. Juan buys a new pair of shoes at a shoe store. Refer to Figure 2-1. money flow. What does point A represent on the Circular flow diagram? 3. taxes. alternatives . answer choices . Money flow and real flow are the two main aspects of the circular flow of income economic model. 0. mreconman411. answer explanation . A. Top Answer. 3 and 4. Which arrow represents the flow of goods. Chapter 2/Thinking Like an Economisty 45 67. goods and services to satisfy their wants. The lower most arrow going from the households to the firms symbolizes the … Introducing Textbook Solutions. Resources are in the form of labor, natural resources, capital, and entrepreneurship, all of which are supplied by households. B c. C d. D ANS: B PTS: 1 DIF: 2 REF: 2-1 TOP: Circular-flow diagram MSC: Interpretive 66. Which arrow represents the flow of spending by households? if households are buyers in the markets represented by Box C this circular flow diagram, then a. 1 times. Economists use a circular flow model to highlight basic fetures of a market economy. asked Jun 25, 2019 in Economics by Marcia. B c. C d. D. principles-of-economics; 0 Answer. Sonia completes her first week of employment working as a hairdresser at a salon. 2. Refer to Figure 2-1. The economy's income and expenditure The following diagram presents a circular-flow model of a simple economy. 65. However, the factors of production, such as labor, land, and capital flow from the households to the firms to be converted into goods and the services that will be consumed by the households. c. the markets for goods and services and the financial markets. Which arrow shows the flow of land, labor, and capital? 29% average accuracy. Answer to 10 Refer to Figure 2-1. In the above diagram, which arrow represents the flow of goods and services? 60 seconds . b. consumer goods and services. 0 votes. Which arrow represents the flow of income payments? Answer. Which arrow represents the flow of goods and services? Why? The following are proper explanations for why the … Refer to the above diagram. Which arrow represents the flow of spending by households? Homework answers / question archive / The Circular Flow Model of the Economy: a What are the four general categories of economic resources? b. consumer goods and services. B (Top inside/middle arrows) Welcome to Sciemce, where you can ask questions and receive answers from other members of the community. answer choices . The arrow marked “C” represents the flow of. Circular flow is generally shown in a circular flow chart or model. Businesses have incentives to earn profits and, therefore, to produce the goods and services that consumers want. Flow (1) might represent: A) corporate income tax payments. 15. a. personal consumption expenditures. Refer to Figure 2 1 Which arrow represents the flow of goods and services a A b, 38 out of 41 people found this document helpful. 30 seconds . In the circular flow of the economy, money is used to purchase goods and services. Which arrow represents the flow … a. Understanding and applying economic models. When we combine both diagrams, we get the circular-flow diagram, as shown below. A B. Related Questions. answered Sep 11, 2019 by LissetteHack . Flow (2) might represent: (choose one) a) the services of NASA astrophysicists. factors of production . Which arrow represents the flow of spending by households? Which arrow represents the flow of goods and services? Which arrow shows the flow of land, labor, and capital? 2 Marks c Which arrow shows the flow of spending by households? Refer to Figure 2-1. taxes. As households and firms pay the government net taxes, money and resources flow outside the model. The Circular Flow of Income: The circular flow is a visual model portraying how dollars move through markets among firms and households. A b. In fact, the household and business sectors do not spend their entire money income. goods and services flow. goods and services flow . asked Jun 25, 2019 in Economics by Marcia. money flow . Which arrow represents the flow of goods and services? Flow maps are a type of map used in cartography to show the movement of objects between different areas on the Earth’s surface. 5 and 6. a. personal consumption expenditures. money flow. Which arrow shows the flow of goods and services? b. households and government. answer choices . Refer to Figure 2-1. Flow (2) might represent: 2 Marks. b. factor incomes. A b. b. To which of the arrows does this purchase, Michelle completes her first week of employment working as a hairdresser at a salon. the purchase of s Get step-by-step explanations, verified by experts. Boxes A and B represent a. firms and households. 12th grade. answered Sep 11, 2019 by LissetteHack . A. Boxes A and B represent, . Individual. Money Flow The flow of spending(consumption expenditure) and income(rent, wages, interest, profits). It represents the movement of goods, services, and taxes. Refer to the above diagram. Boxes C and D represent. Which arrow represents the flow of goods and services? Which arrow represents the flow of spending by households? Circular flow model quiz 2 DRAFT. the markets for goods and services and the markets for factors of production. goods and services flow. Which Arrow Shows The Flow Of Land, Labor, And Capital? Product Market. The flow of goods between states. 65. As illustrated by the arrow labeled VI, with what do governments provide households? Thicker and darker arrows indicate higher volume (each commodity is scaled relative to the highest volume between any two states, so arrow size isn't comparable across commodities). A. and services? Gross domestic product (GDP) measures which of the following from the circular-flow diagram? 0 votes. 4. The arrows in a food chain show the flow of energy. Select the appropriate labels to complete the circular-flow diagram according to the information given on the diagram. B) government provision of highways for truck transportation. The green arrows represent the flow of payments, and the red arrows represent the flow of goods and services. Boxes C and D of this circular-flow diagram represent. If households are buyers in the markets represented by Box C. The arrow marked “D” represents the flow of. a. arrow A b. arrow B c. arrow C d. arrow D ANS: B PTS: 1 DIF: Average REF: 25 BLM: Higher Order NOT: Micro TB_2-53 54. A. Refer to the diagram, in which solid arrows reflect real flows; broken arrows are monetary flows. B. Which arrow represents the flow of goods and services? This article provides a basic overview these maps, a description of how they work, describes the three different types of flow maps and explains the characteristics of a good flow map. 2. Why? 2011-08-26 12:59:42 Refer to Figure 2-1. … The delivery of finished products for sale in exchange for revenue is represented in which arrows? The green arrows represent the flow of payments, and the red arrows represent the flow of goods and services. A b. Which arrow represents the flow of spending by households? Which arrow represents the flow of goods and services? The movement of income from producers of goods and services to consumers, and back to the producer is known as the circular flow. To which of the arrows does this activity contribute directly? On the other hand, finished products flow from firms to households in goods and services markets, and this is represented by the direction of the arrows on the “Finished product” lines. 2 Marks d Which arrow shows the flow of the factors of production? 3. . The figure represents a circular-flow diagram. c. personal consumption expenditures. The economy's income and expenditure The following diagram presents a circular-flow model of a simple economy. Refer to Figure 2-1. Firms produce G&S, which are purchased by households. Course Hero is not sponsored or endorsed by any college or university. 71. The arrow marked “C” represents the flow of. answer choices . Save. taxes . and services? Refer To Figure 2-1. A. As households and firms pay the government net taxes, money and resources flow outside the model. Which arrow represents the flow of land, labor, and capital? 1 2 3. If Box A represents firms, then which box. factors of production. Ungraded . The figure represents a circular-flow diagram. c. the markets for goods and services and the financial markets. The arrows represent the origin and destination of goods shipped between states. In a closed economy, goods and services are exchanged in product markets and factors of production are exchanged in factor markets. D) the flow of income received by households and the flow of tax revenues paid by firms Answer: B Diff: 2 Page Ref: 52-53/52-53 This preview shows page 19 - 22 out of 98 pages. A b. Why? Which arrow represents the flow of spending by households? A. Asked by Wiki User. Best answer. Which arrow represents the flow of goods and services? The figure represents a circular-flow diagram. Based on this simplified model, all these flows involved in it are depicted in the following figure. Refer to Figure 2-1. Chapter 2 MC â€" Thinking Like an Economist, 20A Posted First Midterm Study KEY Nov. 7 ,2012, University of Economics Ho Chi Minh City • HCM 41, University of California, Irvine • ECON 20A, Royal Melbourne Institute of Technology • ECON 1016. Refer to Figure 2-1. Firms produce G&S, which are purchased by households. C) business property tax payments. . 2 Marks. 2. c. personal consumption expenditures. d Which arrow shows the flow of the factors of production? This is money flow from households to firm sector. the flow of income earned from the sale of resources and the flow of expenditures on goods and services. In the circular flow of goods and services what does the product market represent? B c. C d. D. principles-of-economics; 0 Answer. Circular flow is generally shown in a circular flow chart or model. B Ac D. D 36. Refer to Figure 2 1 Which arrow shows the flow of goods and services a arrow A from ECON 111 at University of Saskatchewan factors of production . … Check all that apply. In the circular flow of money, saving is one of the leakages and investment is an injection. SURVEY . Michelle completes her first week of employment working as a hairdresser at a salon. The figure represents a circular-flow diagram. a. 30 seconds . Box D must represent the markets for goods and services. B c. C d. D ANS: B PTS: 1 DIF: 2 REF: 2-1 TOP: Circular-flow diagram MSC: Interpretive 66. A. To produce goods and services, businesses need to purchase resources from households. A B. The figure represents a circular-flow diagram. Factor Market. What does point C represent on the Circular Flow diagram? Refer to the diagram, in which solid arrows reflect real flows; broken arrows are monetary flows. 7 and 8. The arrow marked “D” represents the flow of. Wiki User Answered . Refer to Figure 2-1. Why? Q. Which arrow represents the flow of spending by households? Answer to: The circular flow model. The clockwise arrows represent the flow of goods and services. Edit. . Why? goods and services flow . The circular flow in a two-sector economy is depicted in Figure 1 where the flow of money as income payments from the business sector to the household sector is shown in the form of an arrow in the lower portion of the diagram. c. firms are sellers in the markets represented by … Tags: Topics: Question 5 . If households are sellers in the markets represented by Box D. . The consumers who represent the household sector do not spend their income wholly in purchasing goods and services. factors of production. 14. It is basically a model that shows supply and demand in an economy. 4. Play this game to review Economics. Answer to: The circular flow model. Receive Instant Help Click Here to Ask Your Question. Flow (2) might represent: Question 34 options: the services of NASA astrophysicists. The circular-flow diagram (or circular-flow model) is a graphical representation of the flows of goods and money between two distinct parts of the economy: -market for goods and services, where households purchase goods and services from firms in exchange for money; 7 and 8. Flow (2) might represent: (choose one) a) the services of NASA astrophysicists. Course Hero is not sponsored or endorsed by any college or university. As illustrated by the arrow labeled VI, with what do governments provide households? B C. C D. D 35. Refer To Figure 2-1. Which arrow shows the flow of land, labor, and capital? Refer to Figure 2-1. 2 Marks b Which arrow shows the flow of goods and services? Michelle completes her first week of employment working as a hairdresser at a salon. In the above diagram, which arrow represents the flow of goods and services? The following diagram presents a circular flow model of a simple economy. To which of the arrows does this transac-. The figure represents a circular-flow diagram. Which of the following statements about a simple circular flow model is false? D) transfer payments to low-income families. Which A. In a closed economy, such as the example to the left, all the spending of households and firms must equal the income received by the factors and goods-and-services markets. 5 and 6. Factors of production flow form households (red arrow) to firms, so they can produce more goods and services. Top Answer. 1 and 2. The flow of goods and services(output) and resources(land, labour, capital enterprise) in the economy. A b. 14. Refer to Figure 2-1. B c. C d. D ANS: B PTS: 1 DIF: 2 REF: 2-1 TOP: Circular-flow diagram MSC: Interpretive 66. … the markets for goods and the markets for services. b. factor incomes. Honor Code. Thicker and darker arrows indicate higher volume (each commodity is scaled relative to the highest volume between any two states, so arrow … Which arrow represents the flow of spending by households? The circular flow model Aa Aa This diagram depicts the circular flow model. Refer to Figure 2-2. A) the flow of goods and the flow of factors of production B) the flow of costs and the flow of revenue C) the flow of income earned from the sale of resources and the flow of expenditures on goods and services. the flow of money. The following diagram presents a circular flow model of a simple economy. Q. 3 and 4. 1 2 3. Factors of production flow from households to firms in the markets for factors of production, therefore arrow C must represent this flow. Tags: Question 9 . To which of the arrows does this activity contribute directly? Refer to Figure 2-1. Households. The Circular Flow of Income: The circular flow is a visual model portraying how dollars move through markets among firms and households. A. A simple circular flow model shows the flow of goods and services through the economy. For a limited time, find answers and explanations to over 1.2 million textbook exercises for FREE! a. the markets for goods and services and the markets for financial assets. The circular flow model Aa Aa This diagram depicts the circular flow model. . arrows represent the flow of goods and services. The two arrows at the bottom of the diagram (C) similarly represent the factors of production market. Chapter 2/Thinking Like an … Select the appropriate labels to complete the circular-flow diagram according to the information given on the diagram. Answer: B 27. In the circular flow of goods and services what does the product market represent? A b. To which of the arrows does this activity contribute directly? Report an issue . Which arrow shows the flow of spending by households? c. factors of production. A b. Both refer to exchanges of goods and services for … Refer to the diagram, in which solid arrows reflect real flows; broken arrows are monetary flows. In a closed economy, such as the example to the left, all the spending of households and firms must equal the income received by the factors and goods-and-services markets. A. B c. C d. D ANS: B PTS: 1 DIF: 2 REF: 2-1 TOP: Circular-flow diagram MSC: Interpretive 66. In short, the two arrows on the top represent the goods and services market – the arrow above represents the flow of payments for the goods and services, the arrow below represents the flow of goods and services. 101, University of Maryland, Baltimore County • ECON 102, Microeconomics part - questions with answers, Principles of Economics Mankiw 6th Edition Test Bank6.pdf, University of Economics Ho Chi Minh City • ECONOMY 238. Refer to Figure 2-1. The arrows 1 to 2 in this diagram represent which aspect of the economy? Refer to the above diagram, in which solid arrows reflect real flows; broken arrows are monetary flows. To which of the arrows does this transaction directly con-, Boxes A and B of this circular-flow diagram represent. In this video, we explore how to model this in a straightforward way using the circular flow model. Which arrow represents the flow of goods and services? B c. C d. D ANS: B PTS: 1 DIF: 2 REF: 2-1 NAT: Analytic LOC: Understanding and applying economic models TOP: Circular-flow diagram MSC: Interpretive 101. Describes the flow of resources, goods and services and income between parts of the economy. The movement of income from producers of goods and services to consumers, and back to the producer is known as the circular flow. 65. SURVEY . The arrows 1 to 2 in this diagram represent which aspect of the economy? Answer. Resources are in the form of labor, natural resources, capital, and entrepreneurship, all of which are supplied by households. Asked by Wiki User. Refer To Figure 2-1. B C. C DD 34. As an organism is eaten, energy is transferred to the organism that ate it. Which Arrow Represents The Flow Of Spending By Households? Firm. The circular flow analysis is the basis of national accounts and hence of macroeconomics. she receives her first paycheck. Tap again to see term 👆. Which arrow represents the flow of goods. c. factors of production. CS, M E.Q. Tap card to see definition 👆. Which arrow represents the flow of goods and services? d. the markets for goods and the markets for services. A B. The exchanges made in the economy imply a redistribution of rent according to the diagram, and the creation of value makes the economy grow . B c. C d. D ANS: B PTS: 1 DIF: 2 REF: 2-1 TOP: Circular-flow diagram MSC: Interpretive 66. answer explanation . The figure represents a circular-flow diagram. 1. 2 months ago. Q. 2011-08-26 12:59:42 2011-08-26 12:59:42 . University of the Fraser Valley • E.Q. Tags: Question 8 . 15. b Which arrow shows the flow of goods and services? The goods and services are produced by the firms to be consumed by the households. Refer to Figure 2-1. a. factors of production. All individuals in the economy that provide firms with productive resources in … Question: O Represents The Flow Of Gods And Service 33. On Friday of that week she receives her first paycheck. For reference, it also several examples of different types of flow maps. (Exhibit: Circular Flow Model) The exhibit shows a simplified circular flow model where only consumption goods are being produced. Refer to Figure 2-1. On Friday of that week she receives her first paycheck. Why? 2. alternatives . A. Among economic models, the circular-flow diagram is unusual in that it, . a. factors of production. This preview shows page 5 - 8 out of 22 pages. The exchange of money for goods/services to consumers is represented in which part of the circular flow diagram? Box C must represent the markets for the factors of production. Goods and services flow through the economy in one direction while money flows in the opposite direction. Wiki User Answered . A. Refer To Figure 2-1. B. The inner two arrows indicate real flows which show flow of factor services from household sector to firm sector and corresponding flow of goods and services from firm sector to household sector. A b. between economic agents.The flows of money and goods exchanged in a closed circuit correspond in value, but run in the opposite direction. e Which arrow shows the flow of income payments? The fact that the arrows on the money lines and the arrows on the product lines go in opposite directions simply represents the fact that market participants always exchange money for other stuff. Send feedback; DMCA. A b. taxes . money flow . answer choices . Best answer. 1. The following diagram depicts the circular-flow model of a simple economy. consumer goods and services. SURVEY . B B. 1 and 2. Chapter 2/Thinking Like an Economisty 45 67. B c. C d. D ANS: B PTS: 1 DIF: 2 REF: 2-1 TOP: Circular-flow diagram MSC: Interpretive 66. 2 Marks . Edit. The arrow marked "B" represents the flow of: Click card to see definition 👆. . Households are neither buyers nor sellers in the input market. ANS: A 73. A b. H ow to read it: The arrows represent the origin and destination of goods shipped between states. businesses purchase what they use to produce goods and services. Which arrow shows the flow of income payments? The circular flow of income or circular flow is a model of the economy in which the major exchanges are represented as flows of money, goods and services, etc. In the circular-flow diagram, the outer set of arrows represents the flow of dollars, and the inner set of arrows shows the corresponding flow of inputs and outputs. 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And explanations to over 1.2 million textbook exercises for FREE with what do governments households! Buys a new pair of shoes at a salon C which arrow represents the of. Out of 22 pages services, businesses need to purchase resources from households to firms so. Land, labour, capital, and the financial markets receive which arrows represent the flow of goods and services? other...