#cfa-level #economics #microeconomics #reading-13-demand-and-supply-analysis-introduction #study-session-4
Factor markets are markets for the purchase and sale of factors of production. In capitalist private enterprise economies, households own the factors of production (the land, labor, physical capital, and materials used in production).
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2. TYPES OF MARKETSn markets. Investment analysts need at least a basic understanding of those markets and the demand and supply model that provides a framework for analyzing them.
Markets are broadly classified as factor markets or goods markets. <span>Factor markets are markets for the purchase and sale of factors of production. In capitalist private enterprise economies, households own the factors of production (the land, labor, physical capital, and materials used in production). Goods markets are markets for the output of production. From an economics perspective, firms, which ultimately are owned by individuals either singly or in some corporate form, are or Summary
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