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Factor Market: Definition & Examples

Instructions:

Choose an answer and hit 'next'. You will receive your score and answers at the end.

question 1 of 3

A factor market is _____.

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1. Which one is NOT part of factor market?

2. Which market sells a finished product?

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About This Quiz & Worksheet

Questions focus on how the factor market works, components of the factor market and the different services that are a part of the factor market.

Quiz & Worksheet Goals

You will be assessed on the following:

  • Why land is a part of the factor market
  • Parts of factor market
  • The market that sells a finished product

Skills Practiced

  • Information recall - access the knowledge you've gained regarding what market the skilled labor needed to build a swing set is a part of
  • Reading comprehension - ensure that you draw the most important information from the lesson on the factor market
  • Knowledge application - use your knowledge to answer a question about the name for the marketplace for services needed for finished goods production

Additional Learning

Increase your understanding of one of the market types by completing the lesson titled, Factor Market: Definition & Examples. The covered objectives include:

  • Understand the significance of the factor market to the economy
  • Review raw materials
  • Know the importance of the factor market to business
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