3 Tutorials that teach Factor Markets
Take your pick:
Factor Markets

Factor Markets

Author: Kate Eskra

This lesson will explain the economic idea of factor markets.

See More
Try a College Course Free

Sophia’s self-paced online courses are a great way to save time and money as you earn credits eligible for transfer to over 2,000 colleges and universities.*

Begin Free Trial
No credit card required

26 Sophia partners guarantee credit transfer.

226 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 21 of Sophia’s online courses. More than 2,000 colleges and universities consider ACE CREDIT recommendations in determining the applicability to their course and degree programs.


Notes on "Factor Markets"

Terms to Know

Final Good

Products ultimately produced.

Intermediate Good

Products or services used to generate other goods.

Factors of production

Resources defined as land, labor, and capital that is 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.