The labor market is an example of: the derivatives market. a market in which the natural forces of demand and supply do not operate. a market in which there is no scarcity. a resource market. a product market.

Question

Business

Clay Massey

12 April, 02:25

The labor market is an example of: the derivatives market. a market in which the natural forces of demand and supply do not operate. a market in which there is no scarcity. a resource market. a product market.

+4

Answers (1)

Know the Answer?

Litzy Moore · Answer 1

Answer: A resource market

Explanation: Labor is considered to be one of the resources needed for production activities. Thus, the market in which the resources are purchased or sold for various uses is called resource market.

The market forces of demand and supply do operate in such markets. There is scarcity of labor in western countries leading to high prices of labor.

The product market is the one in which finished goods and services are sold to customers.