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5 December, 23:35

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

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  1. 6 December, 00:02
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    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
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