Question: This question I am having some problems with in terms of the elements of the scenario which I have gotten incorrect once already. Suppose Dina
This question I am having some problems with in terms of the elements of the scenario which I have gotten incorrect once already.
Suppose Dina earns $575 per week working as an analyst for A-Plus Accountants. She uses $9 to get her car washed at Spotless Car Wash. Spotless Car Wash pays Charles $300 per week to wash cars. Charles uses $275 to purchase tax services from A-Plus Accountants.
Identify whether each of the following events in this scenario occurs in the factor market or the product market.
| Event | Factor Market | Product Market | |
|---|---|---|---|
| Charles earns $300 per week working for Spotless Car Wash. | |||
| Dina spends $9 to get her car washed. | |||
| Charles spends $275 to purchase tax services from A-Plus Accountants. |
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.
-Dina's labor
-The $275 Charles spends to purchase tax services from A-Plus Accountants
-The $300 per week Charles earns working for Spotless Car Wash
-The car wash Dina receives
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
