Suppose Eileen earns $650 per week working as jewelry appraiser for Classy's Jewelry Store. She uses $9 to buy a box of aspirin at Pillmart Pharmacy. Pillmart Pharmacy pays Clancy $400 per week to work the cash register. Clancy uses $175 to purchase necklace from Classy's Jewelry Store.

Identify whether each of the following events in this scenario occurs in the factor market or the product market.

1). Hubert earns $450 per week working for Pillmart Pharmacy. 2). Kate earns $875 per week working for Classy's Jewelry Store. 3). Hubert spends $325 to purchase necklace from Classy's Jewelry Store.

Costco wholesale corporation operates membership warehouses selling food, appliances, consumer electronics, apparel and other household goods at 471 locations across the u.s. as well as in canada, mexico and puerto rico. as of its fiscal year-end 2005, costco had approximately 21.2 million members. selected fiscal-year information from the company's balance sheets follows. ($ millions). selected balance sheet data 2005 2004 merchandise inventories $4,015 $3,644 deferred membership income (liability) 501 454 (a) during fiscal 2005, costco collected $1,120 cash for membership fees. use the financial statement effectstemplate to record the cash collected for membership fees. (b) in 2005, costco recorded $46,347 million in merchandise costs (that is, cost of goods sold). record thistransaction in the financial statement effects template. (c) determine the value of merchandise that costco purchased during fiscal-year 2005. use the financial statementeffects template to record these merchandise purchases. assume all of costco's purchases are on credit.