Typed plz and asap thanks 2. The circular flow modelThe 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 theinner set of arrows (shown in red) shows the corresponding flow of inputs and outputs.FirmsMarkets forGoods and ServicesMarkets forFactors of ProductionBased on this model, households earn income whenHouseholdspurchaseSuppose Yvette earns $600 per week working as a software engineer for Casement. She uses $10 to take a spin class at Silver's Gym. Silver's Gympays Sean $425 per week to work as a trainer. Sean uses $100 to purchase software from Casement.EventSean earns $425 per week working for Silver's Gym.Yvette spends $10 to take a spin class.Sean spends $100 to purchase software from Casement.in factor markets.Identify whether each of the following events in this scenario occurs in the factor market or the product market.Factor Market Product MarketOOOO TipsipsBased on this model, households earn income whenpurchaseSuppose Yvette earns $600 per week working as a software engineer for Casement. She uses $10 to take a spin class at Silver's Gym. Siver's Gympays Sean $425 per week to work as a trainer. Sean uses $100 to purchase software from Casement.EventSean earns $425 per week working for Silver's Gym.Yvette spends $10 to take a spin class.Sean spends $100 to purchase software from Casement.Identify whether each of the following events in this scenario occurs in the factor market or the product market.Factor Market Product MarketOOOThe $425 per week Sean earns working for Silver's GymThe spin dass Yvette receivesYvette's laborThe $100 Sean spends to purchase software from Casementin factor markets.OOWhich of the elements of this scenario represent a flow from a firm to a household? This could be a flow of dollars, inputs, or outputs. Check all thatapply.Grade It NowSave & Continue

Product Market deals with buying and selling of goods and services.Factor Market deals with buying…

2. The circular flow model 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 Firms Markets for Goods and Services Markets for Factors of Production Based on this model, households earn income when Households purchase Suppose Yvette earns $600 per week working as a software engineer for Casement. She uses $10 to take a spin class at Silver's Gym. Silver's Gym pays Sean $425 per week to work as a trainer. Sean uses $100 to purchase software from Casement Event Sean earns $425 per week working for Silver's Gym. Yvette spends $10 to take a spin class. Sean spends $100 to purchase software from Casement. in factor markets. Identify whether each of the following events in this scenario occurs in the factor market or the product market. Factor Market Product Market O O

2. The circular flow model 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 Firms Markets for Goods and Services Markets for Factors of Production Based on this model, households earn income when Households purchase Suppose Yvette earns $600 per week working as a software engineer for Casement. She uses $10 to take a spin class at Silver's Gym. Silver's Gym pays Sean $425 per week to work as a trainer. Sean uses $100 to purchase software from Casement Event Sean earns $425 per week working for Silver's Gym. Yvette spends $10 to take a spin class. Sean spends $100 to purchase software from Casement. in factor markets. Identify whether each of the following events in this scenario occurs in the factor market or the product market. Factor Market Product Market O O

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Imagine you are the mayor of a town and you are trying to decide if you should pay for a fireworks show. Your staff survey your 400 citizens who say that they each value a fireworks show at $10. The fireworks show only costs $3,000 so you put on the show but when you ask for donations to pay for the fireworks you only receive $25 total. What does this result show? Select an answer and submit. For keyboard navigation, use the up/down arrow keys to select an answer. You staff's survey must have overestimated the value of a fireworks show. b The fireworks cost must have been greater than their economic benefit. The firework show suffered from the Tragedy of the Commons problems d The town's citizens were free-riders.
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