Which best describes what occurs in the product market?

A. The exchange of labor for capital
B. The exchange of goods and services for factors of production
C. The exchange of goods and services for money
D. The exchange of money for factors of production

Question

26-06-2024
Business

Answered

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Which best describes what occurs in the product market?

A. The exchange of labor for capital
B. The exchange of goods and services for factors of production
C. The exchange of goods and services for money
D. The exchange of money for factors of production

Sagot :

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GinnyAnswer GinnyAnswer · Answer 1 · 2024-06-26T19:54:39-04:00

Final answer:

The product market involves the exchange of goods and services for money between firms and households.

Explanation:

The product market involves the exchange of goods and services for money. Firms supply these goods and services to households, and households purchase them from firms. Additionally, households provide factors of production such as labor and capital to firms in exchange for payments.

Learn more about product market exchange here:

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Sagot :

Final answer:

Explanation:

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