Natalya Sydney: one is a market for resources and the other a market of products(goods & services)hmm i think a stock exchange or NASDAQ is an example of factor market? because money is productive resource?
Darren Heling: The first answer is correct. Recall that the factors of production are land, labor, capital, and entrepreneurship. Obviously, there's not market for the last factor. Product markets are simple the markets for the output of the factors.You need a factor to produce a product. Just like in multiplying. The factors combine for the product....Show more
Mickey Isle: the definition I have is:factor markets:markets where productive resources are brought & sold.product markets:selling of goods & services to consumers.I can't tell what the difference is.
Dick Baumgarten: Factor markets are for inputs i.e. labor, land, capital, etc. Product markets are for outputs i.e. goods and services.
Evelin Turlich: don't know sorry
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