Problem
Consider the following scenario.
Claire works as a rental agent for Hanson Car Rentals, earning $800 a week. She has set up an automatic $40 withdrawal each week to pay for her gym membership at Fit for Life. Fit for Life pays Markus $70 to teach a weekly kickbox-cardio class. Next week, Markus plans to spend $200 on a rental car from Hanson to visit his aunt in Winnipeg.
a. Which of the events in this scenario occur in the factor market?
b. Which of the events in this scenario occur in the product market?
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.