Figure 2-2

-Refer to Figure 2-2.In which market are firms sellers?

Question

Figure 2-2
 
-Refer to Figure 2-2.In which market are firms sellers?

Quizplus · Accepted Answer

In Figure 2-2, firms are shown on the supply side of the goods and services market. This would suggest that they are sellers in this market, as they are supplying goods and services to consumers. The factors of production market is where firms purchase inputs such as labor and capital, so they are buyers in that market. Therefore, the correct answer is A) the goods and services market.

Figure 2-2 -Refer to Figure 2-2.In Which Market Are Firms Sellers