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21 September, 10:25

Which of the following is true about product markets?

A. Goods and services flow from households to firms.

B. Factors (land, labor, capital, and entrepreneurial ability) flow from households to firms.

C. Factors (land, labor, capital, and entrepreneurial ability) flow from firms to households.

D. Goods and services flow from firms to households.

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  1. 21 September, 14:19
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    The correct answer is option D.

    Explanation:

    A product market deals with goods and services. In a product market goods and services are supplied by firms and businesses and purchased by households.

    The households in exchange pay businesses and firms which is known as consumer spending for households.

    A product market is concerned with the flow of finished goods and services, it does not involve trade in raw materials and other intermediate goods.
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Home » Business » Which of the following is true about product markets? A. Goods and services flow from households to firms. B. Factors (land, labor, capital, and entrepreneurial ability) flow from households to firms. C.
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