Firms earn revenue when purchase in product markets. Suppose Eileen earns $550 per week working as an analyst for A-Plus Accountants. She uses $9 to get her car washed at Spotless Car Wash. Spotless Car Wash pays Clancy $300 per week to wash cars. Clancy uses $100 to purchase tax services from A-Plus Accountants.
Identify whether each of the following events in this scenario occurs in the resource market or the product market.
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.