which best describes what occurs in the product market?\n the exchange of labor for capital\n the exchange…
which best describes what occurs in the product market?\n the exchange of labor for capital\n the exchange of goods and services for factors of production\n the exchange of goods and services for money\n the exchange of money for factors of production
Answer
Brief Explanations:
In the product market, firms sell goods and services to households in exchange for money. The exchange of labor for capital occurs in the factor market. The exchange of goods and services for factors of production is incorrect as factors are inputs and goods/services are outputs. The exchange of money for factors of production is also in the factor market.
Answer:
the exchange of goods and services for money