Markets in which firms sell their output of goods and services are called:
A) resource markets.
B) product markets.
C) command markets.
D) mixed markets.

Question

Quizplus · Accepted Answer

Product markets refer to the markets where firms sell their output of goods and services to consumers. Resource markets refer to the markets where firms purchase the inputs they need to produce their goods and services. Command markets and mixed markets are not commonly used economic terms.

Markets in Which Firms Sell Their Output of Goods and Services