ECON101-E1 Survey of Economics | Elite Writing Geeks

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 Course: ECON101-E1 Survey of Economics SP20 HOW TO calculate the value of output? – Google kereses MindTap – Cengage Learning CENGAGE MINDTAP Chapter 11 Homework wal, etc. Incomes abot, cau Markets for Inputs Wases, interest Based on this model, households earn income when purchase in the factor markets. Suppose Caroline earns $625 per week working as jewelry appraiser for Classy’s Jewelry Store. She uses $8 to get her car washed at Spotless Car Wash. Spotless Car Wash pays Antonio $325 per week to wash cars. Antonio uses $225 to purchase necklace from Classy’s Jewelry Store. Identify whether each of the following events in this scenario occurs in the factor markets or the product markets. Event Factor Markets 0 Product Markets 0 Caroline earns $625 per week working for Classy’s Jewelry Store. ee Caroline spends $8 to get her car washed. oool Antonio spends $225 to purchase necklace from Classy’s Jewelry Store. Which of the elements of this scenario represent a flow from a household to a business? This could be a flow of dollars, inputs, or outputs. Check al that apply The car wash Caroline receives The $225 Antonio spends to purchase necklace from Classy’s Jewelry Store Caroline’s labor

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