c Back to Assignment Attempts Do No Harm: /1 1. Problems and Applications Q1 Ide

Question

c Back to Assignment Attempts Do No Harm: /1 1. Problems and Applications Q1 Identify whether each of the following activities takes place in the markets for goods and services of markets for factors of production Activity Alyssa pays a storekeeper $2 for a quart of yogurt. Crystal spends $40 to get a haircut Tim earns $10 per hour working at a library Hilary earns $10,000 from 40% ownership of her family business Markets Factors of Production Goods and Services Grade It Now Save & Continue Continue without saving Sype here to search

Explanation / Answer

Question 1:

First activity (Alissa): Goods and services
(Alissa is paying for the good here).

Second activity (Crystal): Goods and services
(Crystal is paying for the service of getting a haircut in this case

Third activity (Tim): Factors of production
(Tim is receiving more for the labor he provided at the library)

Fourth activity (Hilary): Factors of production
(Hilary is an entrepreneur and thereby this is also an example of factors of procution market).

Note: Please post only one question at a time

Related Questions

Navigate

• Browse (All)
• Browse C
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.