3 Tutorials that teach Factor Markets
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Factor Markets

Factor Markets

Author: Justin Tapp

This lesson will explain the economic idea of factor markets.

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Notes on "Factor Markets"

Terms to Know


Final Good

Products ultimately produced.

Intermediate Goods

Products or services used to generate other goods.

Factors of production

Resources defined as land, labor, and capital that are necessary to produce output.


Human service that contributes to the creation or distribution of goods or services.


Material assets in the form of money or machinery used as a factor of production.

Natural Resources

Organic material found in its natural habitat.


A factor of production that occurs naturally in the form of real estate or organic assets.


Specialized production techniques.