what circular flow the the following fall into
1)You receive $15,000 in profits from your half-owner of a Krispy Kreme franchise.
2)The Georgia Bulldogs sells season football tickets for $50.00.
3)What market determines the price per acre of farmland?
4)What market determines the price of a computer?
5)What market determines the salary of the CEO of a firm?
What market determines the price of soda?
What market determines the price of soda-bottling equipment?
1) The circular flow in question 1 falls under the factor market. This is because you, as the owner, are receiving profits (which are considered a form of income) from your half-ownership of a Krispy Kreme franchise.
2) The circular flow in question 2 falls under the product market. This is because the Georgia Bulldogs are selling season football tickets, which is a product or service, to consumers for $50.00.
3) The circular flow in question 3 falls under the land market. This is because the price per acre of farmland is determined by the interaction of buyers and sellers in the land market. Factors such as supply and demand, location, fertility, and other factors influence the price of farmland.
4) The circular flow in question 4 falls under the market for goods and services. This is because the price of a computer is determined by the interaction of buyers and sellers in the market for computers. Factors such as supply and demand, technological advancements, brand and quality, and other factors influence the price of computers.
5) The circular flow in question 5 falls under the market for labor. This is because the salary of the CEO of a firm is determined by the interaction of employers (firms) and employees (CEOs) in the labor market. Factors such as the CEO's qualifications, experience, negotiation skills, company performance, and other factors influence the salary of a CEO.
6) The circular flow in question 6 falls under the market for goods and services. This is because the price of soda is determined by the interaction of buyers and sellers in the market for soda. Factors such as supply and demand, brand and quality, production costs, and other factors influence the price of soda.
7) The circular flow in question 7 falls under the market for capital goods. This is because the price of soda-bottling equipment is determined by the interaction of buyers and sellers in the market for capital goods. Factors such as supply and demand, technological advancements, production costs, and other factors influence the price of soda-bottling equipment.
1) You receive $15,000 in profits from your half-owner of a Krispy Kreme franchise: This falls into the factor market, as it represents income generated through the ownership of a capital resource (the franchise).
2) The Georgia Bulldogs sell season football tickets for $50.00: This falls into the product market, as it involves the sale of a final good or service (i.e., football tickets).
3) The market that determines the price per acre of farmland: This falls into the resource market or factor market, as it involves the buying and selling of land as a factor of production.
4) The market that determines the price of a computer: This falls into the product market, as it involves the buying and selling of the final good (i.e., computers).
5) The market that determines the salary of the CEO of a firm: This falls into the labor market, as it involves the negotiation and determination of wages for managerial positions.
6) The market that determines the price of soda: This falls into the product market, as it involves the buying and selling of the final good (i.e., soda).
7) The market that determines the price of soda-bottling equipment: This falls into the capital market, as it involves the buying and selling of capital goods used in the production of soda (i.e., soda-bottling equipment).