Question

Refer to the diagram and explain the difference between a factor market and a product market

Answer 1

Sample Response: The Factor Market is where the businesses go to get the factors of production or productive resources (C.E.L.L). The Product Market is where consumers go to get goods and services produced by the businesses.

Step-by-step explanation:

Edge 2020

Answer 2

Following are the solution to the given question:

Step-by-step explanation:

The market factor is a market in which production factors are bought or sold. Its return for making variable transactions at variable rates, companies purchase investment resources, and the companies will get output factors or efficient capital. Its product's price would be where customers goto the company to manufacture goods and services.