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17 May, 04:34

Dave gets a job at a grocery store, which pays him an hourly wage in exchange for his labor. Dave is participating in entrepreneurship human capital the product market the factor market

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  1. 17 May, 04:37
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    Dave is participating in the factor market.

    Explanation:

    Dave gets a job at a grocery store, which pays him an hourly wage in exchange for his labor. Dave is providing his factor services to the grocery store and earning factor income in return.

    The grocery store is paying Dave a factor payment as an hourly wage in exchange for labor. So we can say that Dave is involved in the factor market.

    A factor market can be defined as that segment of the economy where the factor services are exchanged in exchange for factor payments.
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