When you purchase a new pair of jeans you do so in the
A)factor market.
B)input market.
C)product market.
D)resource market.

Question

Quizplus · Accepted Answer

The product market refers to the place where finished goods and services are bought and sold, such as when a consumer purchases a pair of jeans. The factor market involves buying and selling resources, like labor or raw materials, used to produce goods or services. The input market is similar to the factor market and refers to the exchange of resources and materials used in the production process. Therefore, the best choice for purchasing a new pair of jeans is the product market.

When You Purchase a New Pair of Jeans You Do