What is a factor market?
1 Answer
Oct 31, 2015
Factor market is a system in which factor services are bought and sold.
Explanation:
There are producers ready to hire the services of factors. Again there are factor owners ready to sell the factor services. The system that links the factor owners on the one hand and the producers on the other hand is factor market.
In short, we can say factor market is one where factor services are traded.
