Suppose Lucia earns $825 per week working as a math tutor for A-Plus Tutoring. She uses $10 to have a drink at Barry’s Bar. Barry’s Bar pays Kenji $300 per week to work as a bartender. Kenji uses $125 to purchase tutoring services from A-Plus Tutoring. Identify whether each of the following events in this scenario occurs in the factor market or the product market. Event Factor Market Product Market Kenji earns $300 per week working for Barry’s Bar. Kenji spends $125 to purchase tutoring services from A-Plus Tutoring. Lucia earns $825 per week working for A-Plus Tutoring.
Added by Briana C.
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g., labor) are bought and sold. - Product market = where goods or services are bought and sold. Show more…
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