21. In the circular flow model, which of the following describes Riverside Grocery's role when it pays 3,000 every two weeks in wages to employees like James Bell? (1 Point) Riverside Grocery is acting as a lender in the financial market. Riverside Grocery is acting as a buyer in the product market. Riverside Grocery is acting as a buyer in the resource market. Riverside Grocery is acting as a seller in the resource market.

Question

21. In the circular flow model, which of the following describes Riverside Grocery's role when it pays 3,000 every two weeks in wages to employees like James Bell? (1 Point) Riverside Grocery is acting as a lender in the financial market. Riverside Grocery is acting as a buyer in the product market. Riverside Grocery is acting as a buyer in the resource market. Riverside Grocery is acting as a seller in the resource market.

Answer 1

In the circular flow model, when Riverside Grocery pays wages to employees like James Bell, it is participating in the resource market. Specifically, Riverside Grocery is acting as a buyer in the resource market because it is purchasing labor services from its employees by paying them wages.Therefore, the correct answer is:Riverside Grocery is acting as a buyer in the resource market.

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