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Questions and Answers
In which market do households purchase consumable goods and services?
In which market do households purchase consumable goods and services?
- Financial market
- Labor market
- Stock market
- Goods and services market (correct)
Where do buyers and sellers usually meet in a financial market?
Where do buyers and sellers usually meet in a financial market?
- Goods and services market
- Stock exchange (correct)
- Online market
- Retail outlet
What do employees provide in the labor market?
What do employees provide in the labor market?
- Physical contact
- Employment opportunities
- Labor services (correct)
- Goods and services
Which market involves the continuous flow of money from consumers to business firms?
Which market involves the continuous flow of money from consumers to business firms?
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Study Notes
Markets and Their Characteristics
- In a product market, households purchase consumable goods and services.
- In a financial market, buyers and sellers usually meet to facilitate transactions involving financial instruments such as stocks, bonds, and currencies.
- In a labor market, employees provide labor services in exchange for compensation.
- A business-to-consumer market involves the continuous flow of money from consumers to business firms, enabling the latter to provide goods and services.
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