Circular Flow of a Mixed Economy Have Notebooks Out Test on Next Friday.
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Transcript of Circular Flow of a Mixed Economy Have Notebooks Out Test on Next Friday.
![Page 1: Circular Flow of a Mixed Economy Have Notebooks Out Test on Next Friday.](https://reader031.fdocuments.in/reader031/viewer/2022013112/56649e5f5503460f94b59ba8/html5/thumbnails/1.jpg)
Circular Flow of a Mixed Economy
Circular Flow of a Mixed Economy
Have Notebooks Out
Test on Next Friday
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Chapter 2 Section Main Menu
monetary flow
physical flow
monetary flow
physical flow
Circular Flow Diagram of a Mixed Economy
Households Firms
Product market
Factor market
Government expendituresexpenditures
governm
ent-
owned facto
rstaxes
taxesgovern
ment
purchases
Government’s Role in a Mixed EconomyIn a mixed economy,
• The government purchases land, labor, and capital from households in the factor market, and
• Purchases goods and services in the product market.
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Questions• 1. Give an example of a productive resource that households sell
to government.
• 2. Give an example of a good or service that businesses sell to government.
• 3. Give an example of a good or service that government provides to households in exchange for money payments, mainly taxes.
• 4. Give an example of a good or service that government provides to businesses in exchange for money payments.
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Chapter 2 Section Main Menu
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Transactions
• 1.Ted sold the trees on 500 acres of land he owned to a lumber company that cut them down to make lumber.
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• 2. Maria received a $200 interest payment from a business to which she had lent money.
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• 3.The Amalgamated Shoe Company sent 5,000 pairs of shoes to a major discount store.
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• 4.Terry paid $75 for a new jacket.
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• 5. A business paid Amy $4,000 a month to use a building she owns.
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• 6.Jane received a paycheck for $675.80 from her employer.
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• 7. The Ajax Cleaning Company came to Frank’s house and cleaned his carpet.
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•8. Larry earned $35,000 last year from the restaurant he owns.
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• 9. Jason bought a new battery for his car.
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• 10. Sara paid the bill for her charge card at a department store.