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6. what is the circular flow of income?

  • the movement of spending and income throughout an economy
  • the movement of income in the world
  • the movement of goods in an economy

7. what does imports stand for?

  • m
  • x
  • I
  • t

8. what are the withdrawals and injections into the cirlcuar flow?

  • government, households, firms
  • withdrawals = imports, tax,saving injections= exports, investments, government spending
  • imports, tax, exports, government spending

9. what are the factors of production?

  • capital, land, labour, enterprise
  • primary, secondary, tertiary
  • capital, enterprise, labour
  • labour, land