Suppose Deborah earns $525 per week working as a jewelry appraiser for Classy's Jewelry Store. She uses $8 to buy a box of aspirin at Pillmart Pharmacy. Pillmart Pharmacy pays Carlos $275 per week to work the cash register. Carlos uses $150 to purchase a necklace from Classy's Jewelry Store. Identify whether each of the following events in this scenario occurs in the market for factors of production or the market for goods and services. Event Market for Factors Market for Goods
of Production and Services
Deborah earns $525 per week working for Classy's Jewelry Store.
Carlos earns $275 per week working for Pillmart Pharmacy.
Carlos spends $150 to purchase a necklace from Classy's Jewelry Store.
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.
a. The $325 Hubert spends to purchase necklace from Classy's Jewelry Store.
b. Kate's labor.
c. The aspirin Kate receives.
d. The $450 per week Hubert earns working for Pillmart Pharmacy.