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 this diagram, the firms are producing goods and services (shown by the red boxes). Therefore, they are sellers in the goods and services market where they sell these goods and services to households, government, and other firms. They are not sellers in the factors of production market (shown by the green boxes) where they purchase resources like labor, land, and capital for production purposes.

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