Jim is being paid $7.25 an hour to work at a restaurant.In the circular flow,this is an example of a:

Question

Quizplus · Accepted Answer

Jim is a resource (labor) being bought by the business (restaurant) in the factor market, so C is the correct choice. A and B are incorrect because they refer to buying and selling in the product market, not the factor market. D is incorrect because it implies that Jim is selling a resource as a household, which is not the case as he is employed by a business.

Jim Is Being Paid $7