Factor market
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{{Short description|Market where factors of production are bought and sold}} |
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In [[economics]], a '''factor market''' is a market where [[factors of production]] are bought and sold. Factor markets allocate factors of production, including land, labour and capital, and distribute income to the owners of productive resources, such as wages, rents, etc.{{Cite book |last=Rose and Marquis |title=Money and capital markets |publisher=[[McGraw-Hill]] |year=2006 |location=Boston |pages=4}} |
In [[economics]], a '''factor market''' is a market where [[factors of production]] are bought and sold. Factor markets allocate factors of production, including land, labour and capital, and distribute income to the owners of productive resources, such as wages, rents, etc.{{Cite book |last=Rose and Marquis |title=Money and capital markets |publisher=[[McGraw-Hill]] |year=2006 |location=Boston |pages=4}} |
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