Gilberto Spends $325 To Purchase Medical Services From The Medical Clinic. Product?
1. The circular flow model The following diagram presents a...
1. The round menstruation model
The following diagram presents a circular-flow model of a simple economy. The outer set of arrows (shown in dark-green) shows the menstruation of dollars, and the inner prepare of arrows (shown in red) shows the corresponding flow of inputs and outputs. Based on this model, households earn income whenpurchasein resource markets. Suppose Juanita earns $575 per week working as a doctor for the Medical Clinic. She uses $8 to buy a box of aspirin at Pillmart Pharmacy. Pillmart Pharmacy pays Gilberto $300 per week to work the greenbacks annals. Gilberto uses $225 to purchase medical services from the Medical Clinic. Identify whether each of the following events in this scenario occurs in the resource market or the product market place.
| Gilberto spends $225 to buy medical services from the Medical Clinic. | ||
| Gilberto earns $300 per calendar week working for Pillmart Pharmacy. | ||
| Juanita spends $viii to buy a box of aspirin. |
Which 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 that utilise.
The aspirin Juanita receives The $225 Gilberto spends to purchase medical services from the Medical Dispensary The $300 per calendar week Gilberto earns working for Pillmart Chemist's Juanita's labor
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