Professional Documents
Culture Documents
Economists create models to illustrate economic activity. The circular flow means the unending flows of
production (REAL FLOW) of goods and services, income and expenditure in an economy. It shows the
redistribution of income (MONEY FLOW) in a circular manner between the production unit (firms) and
households. This activity will help you analyze these relationships using the PowerPoint (discussed
during class) that accompanies it.
Use the information from your PowerPoint (discussed during class) to answer the following questions.
For each of the scenarios, you should identify:
a. the role of the person: buyer OR seller; the market: resource OR product
1. Turabi Sports sells a soccer ball to Warsi. What can you tell about the transaction?
2. Warsi has a large rural property where he grows Apple trees and sells them to "Poonam"
Company. What can you tell about the transaction?
a. Warsi was the____________ of the land and trees in the _________ market.
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STUDENT NAME: ………. STUDENT ID: ………
Use the information from your PowerPoint (discussed during class) to answer the following questions.
For each of the scenarios, you should identify:
1. Rouhaan has his own business selling shawarma at a stand in a Mall. For his shawarma stand,
he grows tomatoes in a small garden plot.
2. AZW Productions Inc. just announced a big hit show will play at the Grand Theater in July.
Raja works at the shawarma stand inside the theater and says he can help you buy tickets to the
show.
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