2.1 Identify whether each of the following transactions will take place in an input market or in...

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2.1 Identify whether each of the following transactions will take place in an input market or in an output market, and whether firms or households are demanding the good or service or supplying the good or service.

a. Anderson works 37 hours each week as a clerk at the county courthouse.

b. Mei Lin purchases a 3-week Mediterranean cruise vacation for her parents.

c. Caterpillar doubles employment at its Huntsville, Alabama factory.

d. The Greyson family sells their 250-acre ranch to Marriott so it can build a new resort and golf course.

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Principles Of Economics

ISBN: 9780802845610

12 Global Edition

Authors: Karl E. Case, Ray C. Fair, Sharon E. Oster

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