What is not correct for product Market? - ProProfs Discuss
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What is not correct for product Market?

Asked by Ebner, Last updated: Nov 20, 2021

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John Smith

John Smith

John Smith
John Smith

Answered Sep 08, 2016

Exchange of raw materials-goods/product/commodity markets: Markets used to exchange final good or service. Product markets exchange consumer goods purchased by the household sector, capital investment goods purchased by the business sector, and goods purchased by government and foreign sectors. Aproduct market, however, does not include the exchange of raw materials, scarce resources, factors of production, or any type of intermediate goods.

The total value of goods exchanged in product markets each year is measured by gross domestic product. The demand side of product markets includes consumption expenditures, investment expenditures, government purchases, and net exports. The supply side of product markets is production of the business sector.

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