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2. The circular-flow model 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. Markets for Goods and Services Firms Households Households Markets for Factors of Production Based on this model, households earn income when purchase in factor markets. Suppose Rosa earns $900 per week working as a programmer for PC Pros. She uses $10 to get her car washed at Spotless Car Wash. Spotless Car Wash pays Nick $300 per week to wash cars. Nick uses $100 to purchase software from PC Pros. Identify whether each of the following events in this scenario occurs in the factor market or the product market. Event Factor Market Product Market Rosa spends $10 to get her car washed. 2. The circular-flow model 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. Markets for Goods and Services Firms Households Markets for Factors of Production Based on this model, households earn income when purchase in factor markets. firms Suppose Rosa earns $900 per week working as a pre PC Pros. She uses $10 to get her car washed at Spotless Car Wash. Spotless Car Wash pays Nick $300 per week to wash cars. Nick us households rchase software from PC Pros. Identify whether each of the following events in this scenario occurs in the factor market or the product market. Event Factor Market Product Market Rosa spends $10 to get her car washed. 2. The circular-flow model 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. Markets for Goods and Services Firms Households Markets for Factors of Production Based on this model, households earn income when purchase in factor markets. factors Suppose Rosa earns $900 per week working as a programmer for PC Pros. She washed at Spotless Car Wash. Spotless Car Wash pays Nick $300 per week to wash cars. Nick uses $100 to purchase softwa goods and services Identify whether each of the following events in this scenario occurs in the factor market or the product market. Event Factor Market Product Market Rosa spends $10 to get her car washed. Based on this model, households earn income when purchase in factor markets. Suppose Rosa earns $900 per week working as a programmer for PC Pros. She uses $10 to get her car washed at Spotless Car Wash. Spotless Car Wash pays Nick $300 per week to wash cars. Nick uses $100 to purchase software from PC Pros. Identify whether each of the following events in this scenario occurs in the factor market or the product market. Event Factor Market Product Market Rosa spends $10 to get her car washed. Rosa earns $900 per week working for PC Pros. Nick earns $300 per week working for Spotless Car Wash. 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. Rosa's labor The car wash Rosa receives The $100 Nick spends to purchase software from PC Pros The $300 per week Nick earns working for Spotless Car Wash