(Solved): The follawing diagram presents a circular-flow model of a simple economy. The outer set of arrows ( ...

The follawing diagram presents a circular-flow model of a simple economy. The outer set of arrows (shown in green) showis the flow of dollars, and the inner set of arrows (shown in red) shows the corresponding fow of inputs and outputs. Based on this model, households earn income when purchase in factor markets. Suppose flosa earns $$\$650$$ per week working as an interior designer for Ourhouse. She uses $$\$10$$ to take a yoga class at Big Bend, Big Bend pays Nick $$\$375$$ per week to instruct yoga. Nick uses $$\$225$$ to purchase furniture from Ourhouse. Identify whether each of the following events in this scenario accurs in the factor market or the product market. $$\$375$$ per week to instruct yoga. Nick uses $$\$225$$ to purchase furniture from Ourhouse. Identify whether each of the following events in thas scenario occurs in the factor market or the product markec. 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 all that apply. The $$\$375$$ per week Nick esrns working for alg bend Rosa's iabor The yoge ciass Prosa recelves The 1225 Nick spends to purchase furniture from Ouehouse