Asked by
PAULINA RESENDIZ
on Oct 26, 2024
Verified
Which of the following is sold in the factor market?
A) hot dogs
B) bulldozers
C) nail polish
D) appendectomies
Factor Market
The marketplace where factors of production like labor, capital, and resources are bought and sold.
Hot Dogs
Cooked sausages, traditionally grilled or steamed, often served in a sliced bun as a fast-food.
Bulldozers
Heavy earthmoving equipment with a large metal blade in front for pushing material, such as soil, sand, snow, or rubble, during construction or conversion of land.
- Elucidate the distinctions between product markets and factor markets in the circular flow of an economy.
Verified Answer
VS
Learning Objectives
- Elucidate the distinctions between product markets and factor markets in the circular flow of an economy.