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Based on this model, households earn income when purchase in factor markets. Suppose Susan earns $625 per week working as a math tutor for A-Plus
Based on this model, households earn income when purchase in factor markets. Suppose Susan earns $625 per week working as a math tutor for A-Plus Tutoring. She uses $8 to have a drink at Barry's Bar. Barry's Bar pays Raphael $325 per week to work as a bartender. Raphael uses $200 to purchase tutoring services from A-Plus Tutoring. Identify whether each of the following events in this scenario occurs in the factor market or the product market. Event Factor Market Product Market Susan earns $625 per week working for A-Plus Tutoring. Raphael earns $325 per week working for Barry's Bar. Susan spends $8 to have a drink. Which of the elements of this scenario represent a flow from a household to a firm? This could be a flow of dollars, inputs, or outputs. Check all that apply. The cocktail Susan receives The $200 Raphael spends to purchase tutoring services from A-Plus Tutoring The $325 per week Raphael earns working for Barry's Bar Susan's labor
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