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

Factor Markets

Author: Catherine Barry
Description:

This lesson will explain the economic idea of factor markets.

(more)
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

27 Sophia partners guarantee credit transfer.

245 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.

Tutorial
Terms to Know
  • Capital

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

  • Factors of Production

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

  • Final Goods

    Products ultimately produced.

  • Intermediate Goods

    Products or services used to generate other goods.

  • Labor

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

  • Land

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

  • Natural Resources

    Organic material found in its natural habitat.

  • Technology

    Specialized production techniques.