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2.1.3 Factor and product markets
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What is traded?

What is traded?

Factor market compared with product market: factors of production on the left and finished goods and services on the right

A factor market is a market in which the factors of production are bought and sold. These factors are land, labour, capital and enterprise.

2.1.3 Factor and product markets Lesson

  1. GCSE
  2. /Economics
  3. /2.1.3 Factor and product markets

Step-by-step lessons on OCR GCSE Economics 2.1.3 Factor and product markets. Each one builds up to exam-style questions. Build a solid grasp of supply and demand and cost/revenue calculations before tackling the evaluation-heavy policy topics.

Lessons