identify whether the following event is a scenario occurs in the factor market or in the product market
Identify Whether The Following Event Is A Scenario Occurs In The Factor Market Or In The Product Market 1 (38.91 KiB) Viewed 27 times
Identify Whether The Following Event Is A Scenario Occurs In The Factor Market Or In The Product Market 2 (38.91 KiB) Viewed 27 times
Identify Whether The Following Event Is A Scenario Occurs In The Factor Market Or In The Product Market 3 (42.53 KiB) Viewed 27 times
The following diagram presents a circular-flow model of a simple economy. The outer set of arrows (shown in green) shows the flow of dollars, and the inner set of arrows (shown in red) shows the corresponding flow of inputs and outputs. Firms Markets for Goods and Services Markets for Factors of Production Based on this model, households earn income when Households purchase in factor markets. Suppose Kyoko earns $650 per week working as a corporate attorney for Rowan and Martin Associates. She uses $9 to have breakfast at Dinah's Diner. Dinah's Diner pays Jacques $225 per week to work as a short-order cook. Jacques uses $125 to purchase legal service from Rowan and Martin Associates. Identify whether each of the following events in this scenario occurs in the factor market or the product market. Event Tarques spends $125 to purchase legal service from Rowan and Martin Associates. Factor Market Product Market
Based on this model, households earn income when purchase Suppose Kyoko earns $650 per week working as a corporate attorney for Rowan and Martin Associates. She uses $9 to have breakfast at Dinah's Diner. Dinah's Diner pays Jacques $225 per week to work as a short-order cook. Jacques uses $125 to purchase legal service from Rowan and Martin Associates. Identify whether each of the following events in this scenario occurs in the factor market or the product market. Event Jacques spends $125 to purchase legal service from Rowan and Martin Associates. Kyoko earns $650 per week working for Rowan and Martin Associates. Jacques earns $225 per week working for Dinah's Diner. in factor markets. Factor Market The $125 Jacques spends to purchase legal service from Rowan and Martin Associates The breakfast Kyoko receives The $225 per week Jacques earns working for Dinah's Diner Kyoko's labor Product Market OO Which of the elements of this scenario represent a flow from a firm to a household? This could be a flow of dollars, inputs, or outputs. Check all that apply.
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