Business College

The exchange of factors of production for income occurs in the
market.

Answers

Answer 1

Answer: Factor!

Explanation:

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Answer 2

The exchange of factors of production for income occurs in the factor market.

What is production?

Production alludes to the number of units a firm results over a given timeframe. A firm that works effectively ought to achieve sound information. The variables of creation are a significant monetary idea illustrating the components expected to deliver a decent or administration available to be purchased.

A market is a market where variables of creation are traded. Factor markets dispense elements of creation, including area, work and capital, and appropriate pay to the proprietors of useful assets, like wages, rents, and so forth.

Factor markets are the business sectors where the elements of creation are exchanged. Land, work, and capital are found in customary component markets.

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