Asked by Manfred Leung on May 04, 2024
Verified
Factors of production are traded in the product market.
Product Market
The marketplace where final goods or services are offered to consumers, businesses, and the public.
- Acquire knowledge on the factors of production and their application in economic functions.
Verified Answer
SM
Shavon MccoyMay 11, 2024
Final Answer :
False
Explanation :
Factors of production are traded in the factor market, while goods and services are traded in the product market.
Learning Objectives
- Acquire knowledge on the factors of production and their application in economic functions.