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What are factor markets and product markets?
Factor markets are markets for inputs into the workforce, such as labor markets, land markets, and capital markets. They represent items that are factors in the growth of business. Product markets are the the outputs produced by markets such as goods and services.
What is the difference between factor market amd product market?
Factor Market: Market where factors of production are traded for $$$ (Land, Labor, Capital, Entrepreneurship) AMD (:p lol) AND Product Market: Where final products from businesses or firms are sold by means of factors of production (i.e. target, best buy, etc.)
What represents a factor that advertisers consider when they are trying to persuade people to buy their product?
all
What make pricing of product an important product decision Justify its significance in the light of the growth and profitability of the business?
The pricing of a product is a key factor in determining demand for the product. For instance, if something is priced too high, demand will decrease. If an item is priced lower than competitors, all other factors being equal, then demand for the product will increase.
Is an irritating advertising campaign a good one or does it make customers avoid the product due to the irritation factor of the advert?
It makes ME avoid the product ! There's a couple of irritating ones on TV right now !
What is the difference between a labor market and a factory market?
The primary difference between product markets and factor markets is that factors of production like labor and capital are part of factor markets and product markets are markets for goods.
What are factor markets and product markets?
Factor markets are markets for inputs into the workforce, such as labor markets, land markets, and capital markets. They represent items that are factors in the growth of business. Product markets are the the outputs produced by markets such as goods and services.
How does a market economy coordinate factor and product markets?
8=====(-)
How do businesses and individuals participate in both the product market and the factor markets in the economy?
Businesses in a product market recive revenue from households to pay for the labor that they are using, and in factor markets businesses buy land etc. from households. This keeps the money flowing in the market economy.
What is the relationship between a factor and product?
Factors multiply together to become a product.
What is the difference between factor and product market?
The difference between a factor market and a product market is that a factor market is a market where productive resources are bought and sold, while a product market is a market where products offer goods and services for sale.I copied this out of my econ book =)
Distinguish between indifference curve and isoquants?
indifference curve is a combination of two commodities. where as, isoquant curve shows a relationship between of variable factor i.e. labour and fixed factor i.e. capital.
Why is it important to know the relationship between special product and factor?
chocolate
What is factor and what is a product?
A factor multiplies with another factor to create a product.
What are the 4 basic economic sectors?
Factor Markets, Households, Profuct markets, firms
What can you say about the product of a given fraction and a factor greater than 1?
The product will have the same sign as the given fraction. Also, if it is a proper fraction, then the absolute value of the product will be between the absolute value of the fraction and the factor.
Elements distinguish each other by what factor?
Proton
