Homework Answers
Based on the model households earn income when firms purchase factors of production in factor market.
| Event | Factor Market | Product Market |
|---|---|---|
| Caroline spends $ 9 to get car washed | ✅ | |
| Antorio earns $ 225 /week working for Spotless car wash | ✅ | |
| Antorio spends $ 225 to purchase legal service from Town and Martin Associates | ✅ |
Flow from household to firm
- Caroline's Labour
- The $ 225 Antorio spends to purchase legal service from Rowan and Martin Associates.
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