The primary difference between product markets and factor markets is that
a. product markets...
The primary difference between product markets and factor markets is that
a. product markets are markets for goods, while factor markets are markets for factors of productionlong dashlabor, capital, natural resources, and entrepreneurial ability.
b. product markets are generally after factor markets in the distribution chain.
c. product markets are markets for factors of productionlong dashlabor, capital, natural resources, and entrepreneurial ability, while factor markets are markets for goods and services.
d. product markets produce goods for final sale while the output of factor markets is included in the purchase price of the good itselflong dashfactors are not sold.
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