Question: Read the following scenario and answer the questions that follow Terese earns $900 per week worki…

02 May Question: Read the following scenario and answer the questions that follow Terese earns $900 per week worki…

Posted at 07:43h in 2Past Paper by Exams

Read the following scenario and answer the questions that follow Terese earns $900 per week working as a dentist for Tooth’s Dental Care Clinic. She uses $500 to buy a necklace for her daughter at Classy’s Jewellery Store. Classy’s Jewellery Store pays Ralph $950 per week to appralse jewellery. Raiph uses $400 to purchase dental care services from Tooth’s Dental Care Clinic. Which of the events in this scenario occur in product markets? Check all that apply Ralph spends $400 to purchase dental care services from Tooth’s Dental Care Clinic. 3 Ralph earns $950 per week working for Classy’s Jewellery Store. Terese earns $900 per week working for Tooth’s Dental Care Clinic. Terese spends $500 to buy a necklace for her daughter. Which of the elements in this scenario represent a flow from a household to a firm? (Hint: This could be a flow of money, inputs, or outputs.) Check all that apply. The $950 per week Ralph earns working for Classy’s Jewellery Store □ The necklace Terese receives The $400 Ralph spends to purchase dental care services from Tooth’s Dental Care Clinic Terese’s labour

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