Answered

Westonci.ca is the best place to get answers to your questions, provided by a community of experienced and knowledgeable experts. Get expert answers to your questions quickly and accurately from our dedicated community of professionals. Explore comprehensive solutions to your questions from a wide range of professionals on our user-friendly platform.

difference between a firm, a market and factor payments

Sagot :

Answer:

Firm is the producer of goods and service, markets is the place where goods and services are sold or bought and factors are input in an organization used to produce goods and services.

Explanation:

A firm is an organization that sell goods and services in a market while market is a place where goods and services are sold.

Factor are the essential input used for producing good and service by an organization. These factors are labour, capital and land

We hope this was helpful. Please come back whenever you need more information or answers to your queries. Thanks for stopping by. We strive to provide the best answers for all your questions. See you again soon. Stay curious and keep coming back to Westonci.ca for answers to all your burning questions.