Suppose Rina earns $550 per week working as a doctor for the Medical Clinic. She uses $9 to buy a box of aspirin at Pillmart Pharmacy. Pillmart Pharmacy pays Musashi $500 per week to work the cash register. Musashi uses $225 to purchase medical services from the Medical Clinic. Identify whether each of the following events in this scenario occurs in the resource market or the product market. Event - Resource Market - / Product Market1. Cho spends $10 to buy a box of aspirin. 2. Bob spends $225 to purchase medical services from the Medical Clinic. 3. Cho earns $600 per week working for the Medical Clinic. 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. a. The $225 per week Bob earns working for Pillmart Pharmacyb. The $225 Bob spends to purchase medical services from the Medical Clinicc. The aspirin Cho receivesd. Cho's labor

Identify whether each of the following events in this scenario occurs in the resource market or the product market. Event - Resource Market - / Product Market

1. Cho spends $10 to buy a box of aspirin.

Purchase of goods In the product market. Cho (families) purchase from a Firm

2. Bob spends $225 to purchase medical services from the Medical Clinic.

Purchase of services In the product market. Bob (families) purchase from a Firm

3. Cho earns $600 per week working for the Medical Clinic

Resource market. Families offer their labor to firm in exchange of cash

Inflow from a firm into households:

a. The $225 per week Bob earns working for Pillmart Pharmacy

c. The aspirin Cho receives The firm provide with output

Explanation:

A flow of goods or dollars from the firm (Medical Clinic) into the household:

would be either the services and good the clinic offers or the amount paid to the household for rent, wages and interest in return of the factor of production