Product markets markets where produced services and goods, Ask an Expert

Economics

Product Markets: Markets where produced services and goods are bought and sold (distinguished from markets for factors of production).

Production: Process by which human labour (or ‘work') is applied, typically with the help of tools and other forms of capital, to produce useful services or goods.

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Microeconomics, Economics

Category:- Microeconomics
Reference No.:- M9579416

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