Answer to Question #139891 in Microeconomics for Sufyan Bajwa

Question

Draw a circular flow diagram. Identify the parts of the model that correspond to the flow of goods and services and the flow of rupees for each of the following activities:

a. Laiba pays a shopkeeper Rs.100 for a quart of milk.

b. Sarah earns Rs. 450 per hour working at a fast food restaurant.

c. Tahura spends Rs. 300 to get a haircut.

d. Hajra earns Rs. 100,000/- from her 10 percent ownership of PIA.

e. Sidrah spend Rs. 1,000/- to get a Pizza. 

Answer 1

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