Online College Courses for Credit

Chapter 20 The Factor Market

Chapter 20 The Factor Market

Author: Matthew Lonn

Students will examine the difference between the factor market and the product market. They will understand what factors make up the demand and supply of labor in the factor market. 

See More
Fast, Free College Credit

Developing Effective Teams

Let's Ride
*No strings attached. This college course is 100% free and is worth 1 semester credit.

29 Sophia partners guarantee credit transfer.

310 Institutions have accepted or given pre-approval for credit transfer.

* The American Council on Education's College Credit Recommendation Service (ACE Credit®) has evaluated and recommended college credit for 27 of Sophia’s online courses. Many different colleges and universities consider ACE CREDIT recommendations in determining the applicability to their course and degree programs.


Questions you should be able to answer after the lesson.

What is the difference between the Resource Market and the Product Market?

What does a marginal resource cost curve demonstrate?

How do I calculate the Value of the Marginal Cost of Labor?

What factors can influence the supply of labor?

Chapter 20 Notes

Explanation of Resource Market