What is the product market?

a. the market in which payments are received for selling products to consumers

b. the market in which income is received for supplying land, labor, or capital

c. the market in which firms purchase the factors of production from households

d. the market in which households purchase the goods and services that firms produce

Question

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Business

15 December, 23:21

What is the product market?

a. the market in which payments are received for selling products to consumers

b. the market in which income is received for supplying land, labor, or capital

c. the market in which firms purchase the factors of production from households

d. the market in which households purchase the goods and services that firms produce

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Answers (1)

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Lena Alvarado · Answer 1

I would say that the best answer to that is letter A. the market which payments are received for selling products to consumers. Products meaning the tangible things that firms can sell to consumers in exchange for money. It cannot be B because products don't include land, labor or capital. It cannot be C because product markets sell end products and not factors of production. It also can't be D because product markets do not include services.