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

A) business selling goods and services in the product market.
B) household buying goods and services in the product market.
C) business buying a resource in the factor market.
D) household buying a resource in the factor market.

Factor Market

A marketplace for the services of a factor of production (e.g., labor, capital), where firms buy resources they need to produce goods and services.

Circular Flow

An economic model depicting how money moves through an economy between producers and consumers, illustrating the continuous flow of goods and services and financial transactions.

Business

An organization or enterprising entity engaged in commercial, industrial, or professional activities.