The question continues "Identify whether each of the following events in the scenario occurs in the factor market or the product market". 1. Alex earns $500 per week working for Dinah's Diner. 2. Alex spends $400 to put base necklace from classy's jewelry store. 3. Becky spends $10 to have breakfast. Which of these sceniro represent a flow from a household to a firm? This could be a flow of dollars,inputs, or outputs. check all that apply. 1. the breakfast Becky receives. 2. the $500 per week Alex earns working for Dinah's Diner. 3. The $400 Alex spends to purchase necklace from classy's jewelry store. 4. Becky's labor.

The following diagram presents a circular-flow model of a simple economy. The outer set of arrows (shown in green) shows the flow of dollars, and the inner set of arrows (shown in red) shows the corresponding flow of inputs and outputs. Markets for Goods and Services Firms Households Markets for Factors of Production Based on this model, firms earn revenue when households . purchase goods and services . in product markets. Suppose Becky earns $500 per week working as jewelry appraiser for Classy's Jewelry Store, She uses $10 to have breakfast at Dinah's Diner. Dinah's Diner pays Alex $500 per week to work as a short-order cook. Alex uses $400 to purchase necklace from Classy's Jewelry Store