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Activity 43 the factor market

Activity 43 the factor market. Determining the prices and quantities of inputs necessary for production. The product market. Money payments. Consumer Purchases. Goods & Services. HOUSEHOLDS RESOURCE OWNERS. Business firms. Productive Resources L. L. C. E. Income payments.

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Activity 43 the factor market

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  1. Activity 43 the factor market Determining the prices and quantities of inputs necessary for production

  2. The product market Money payments Consumer Purchases Goods & Services HOUSEHOLDSRESOURCE OWNERS Business firms Productive Resources L. L. C. E. Income payments Wages, Rent, Interest, Profits The factor market

  3. Consider the circular flow of the economy, and fill in the table by determining whether the activity takes place in the product or factor market what the role of the participant is in terms of supply and demand whether the price is a product price, a wage, interest or rent

  4. Consider the circular flow of the economy, and fill in the table by determining whether the activity takes place in the product or factor market what the role of the participant is in terms of supply and demand whether the price is a product price, a wage, interest or rent

  5. The product market Money payments Consumer Purchases Goods & Services HOUSEHOLDSRESOURCE OWNERS Business firms Productive Resources L. L. C. E. Income payments Wages, Rent, Interest, Profits The factor market

  6. If input costs change in the factor market – price and output will be affected in the products market If price changes in the products market, because of a change in demand – the factor market will be affected The circular flow also shows the interconnectedness of the two markets

  7. Consider the following headline; and determine which market (product or factor) is affected first, then determine how the other market is affected“A study announces increased cancer risk from drinking coffee”

  8. Consider the following headline; and determine which market (product or factor) is affected first, then determine how the other market is affected“A study announces increased cancer risk from drinking coffee”

  9. Consider the following headline; and determine which market (product or factor) is affected first, then determine how the other market is affected“There is an increase in the number of people looking for work”

  10. Consider the following headline; and determine which market (product or factor) is affected first, then determine how the other market is affected“There is an increase in the number of people looking for work”

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