Podcast
Questions and Answers
Which two sectors are primarily considered in the two-sector model of the economy?
Which two sectors are primarily considered in the two-sector model of the economy?
- a. Household and Business (correct)
- b. Agriculture and Industry
- c. Primary and Tertiary
- d. Goods and Services
In the two-sector model, what does the term "Household Sector" refer to?
In the two-sector model, what does the term "Household Sector" refer to?
- Individuals and families (correct)
- Business and corporations
- Government entities
- Non-profit organizations
What is the main economic transaction between the Household Sector and the Business Sector in the two-sector model?
What is the main economic transaction between the Household Sector and the Business Sector in the two-sector model?
- Goods and services exchange (correct)
- Taxation and government spending
- Investment and savings
- Import and export
Which of the following is a characteristic of the two-sector model?
Which of the following is a characteristic of the two-sector model?
In the context of the two-sector model, what is the primary function of the Business Sector?
In the context of the two-sector model, what is the primary function of the Business Sector?
Which economic concept is represented by the flow of money from households to businesses for the purchase of goods and services in the two-sector model?
Which economic concept is represented by the flow of money from households to businesses for the purchase of goods and services in the two-sector model?
In the two-sector model, what is the primary source of income for the Household Sector?
In the two-sector model, what is the primary source of income for the Household Sector?
In the two-sector model, what represents the leakage from the circular flow of income?
In the two-sector model, what represents the leakage from the circular flow of income?
Which of the following is a limitation of the two-sector model?
Which of the following is a limitation of the two-sector model?
“Real flow” refers to the flow of
“Real flow” refers to the flow of
Real flow is also called
Real flow is also called
