This activity is the perfect tool you need to guide your students toward a deeper comprehension of the circular flow model of economic markets!
This activity includes:
1) This "Circular Flow Model" Activity includes 3 parts. It begins with a vividly colorful copy of the circular flow model, with blank spaces provided. Your students are asked to fill in the spaces and accurately label the markets, economic participants, market interactions, and the flow of payments in the circular flow model. Next, students will apply what they've learned to define the factor and product markets, and the roles played by consumers and firms in each. They will also identify the three factors of production, and they will define "voluntary exchange". Finally, students will fill in a flow chart that illustrates the flow of payments between consumer and firms in the markets.
This activity can be used in many different ways in the classroom. Students can work independently, in pairs or this activity can be used as a jigsaw in order to facilitate a class wide discussion about the topics discussed in the activity.
2) A detailed answer key to the lesson activity to save you time and help guide student comprehension.
This activity can also be found in a bundle paired with a PowerPoint, Keynote and PDF version of a fully customizable lecture found here:
The Circular Flow Model Bundle
If you like this activity, check out our Unit Activity Bundle that includes activities for all of the objectives in this unit.
Introduction to Economics Unit Activity Bundle
Best of all, this activity aligns to our "Topic 1.7 - The Circular Flow Model" video lecture, which can be found here:
Topic 1.7 - The Circular Flow Model
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