Markets for Factors of Production Based on this model, households earn income when purchase in markets for factors of production. Suppose Maria earns $575 per week working as a doctor for the Medical Clinic. She uses $9 to order a mojito cocktail at Little Havana, Little Havana pays Kevin $300 per week to wait tables. Kevin uses $200 to purchase medical services from the Medical Clinic. 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. Market for Factors of Market for Goods and Event Production Services Maria earns $575 per week working for the Medical Clinic. O O Kevin spends $200 to purchase medical services from the Medical Clinic. O O Kevin earns $300 per week working for Little Havana. O O 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. O The $200 Kevin spends to purchase medical services from the Medical Clinic O Maria's labor The $300 per week Kevin earns working for Little Havana True or False: The actual economy is more complicated than the simple one illustrated in this circular-flow diagram. True O False