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Part 6: Circular Flow Scenario Fill out the circular flow of economic activity, using the following information Scenario: Savannah and Sarah are sisters living in
Part 6: Circular Flow Scenario Fill out the circular flow of economic activity, using the following information Scenario: Savannah and Sarah are sisters living in the same house in your local county. Savannah is an excellent soccer Name_ player and needs a new pair of cleats for her club tryouts this weekend. To make sure she is properly prepared for her Circul tryouts Savannah logs into her Amazon account and searches for size 5 cleats. After her search query, she notices that Part : Amazon offers a variety of goods related to soccer. For instance, they sell soccer balls, apparel, and cones. Savannah purchases a pair of Nike cleats and a new pair of Nike shorts for a total of $99.49. Savannah's sister Sarah is not interested in athletics. In fact, Sarah is more interested in finding a job and earning an income. Sarah applies as a Barista at the local Starbucks. During the interview, the store manager shows her around and provides her with the basic operations of running the store. Sarah notices how there are people making coffee, cashiers using computers to check out the customers, and stockers in the backroom stocking the coffee. Ultimately, Sarah is hired as a Barista, which will pay her $9.15 per hour. After her first week of work, Marcella also finds out that her Starbucks pays additional costs to run the business. This includes a monthly cost of $15,000 lease, $12,000 in labor costs, and $5,000 in electric. Consumer Spending Business Income 1. Product Market Goods Offered Goods Purchase 1. IN 3. Household Firm Firm 1. Firm 1. Firm 2. Firm 2. Factor of Production Offered Input for Production 1. N 1. 3
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