The exchange of factors of production for income occurs in the market.
Asked by maham237 @ in History viewed by 329 People
Answered by maham237 @
Answer;
Factor market.
The exchange of factors of production for income occurs in the factor market.
Explanation;
A factor market is a marketplace for the services of a factor of production.
It facilitates the purchase and sale of services of factors of production, which are labor, capital, land and entrepreneurship that are used by a firm to make finished goods.
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