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

Question

Quizplus · Accepted Answer

When purchasing a new surfboard, the transaction takes place in the product market, as it is a tangible product being sold to the consumer. The resource market refers to the market for the factors of production, such as labor and raw materials, which are used to create the surfboard. The input market refers to the market for these factors of production, and the factor market refers to the market for the production of finished goods by businesses.

When You Purchase a New Surfboard You Do So in the