(Solved): The following diogram presents a circular-flow model of a simple economy, The outer set of arrows ( ...

The following diogram presents a circular-flow model of a simple economy, The outer set of arrows (shown in gresh) shows the flow of datiars, and the inner set of arrows (shewn in red) shows the corresponding fow of inputs and outputs. Dased on this model, firms eam revenue when. purchase. in product markets. 5 Sppose Maria carns \( \$ 675 \) per week working as an interior designer for Qurhouse, she uses \( \$ 10 \) to go dimbing at Wally's Climbing Wan. Waly's Climbing Wall pays Knvin \( \$ 375 \) per week to work as a safety instructor. Kevin uses \( \$ 325 \) bo purchase furniture from Durhouse. Based on this model, firms earn revenue when purchase in product markets. Suppose Maria earns \( \$ 675 \) per week working as an interior designer for Ourhouse. She uses \( \$ 10 \) to go climbing at Wally's Climbing Wall. Wally's Climbing Wall pays Kevin \( \$ 375 \) per week to work as a safety instructor. Kevin uses \( \$ 325 \) to purchase furniture from Ourhouse. Identify whether each of the following events in this scenario occurs in the factor market or the product market. 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 an that apply, The \( \$ 375 \) per week Kevin earns working for Wally's Climbing Wall The \( \$ 325 \) Kevin spends to purchase furniture from Ourhouse The climbing session Marla receives Maria's labor