Question

A Walmart in Lawrenceville, Georgia, would be considered which type of market?

A. Product Market
B. Factor Market
C. Both
D. Neither

Answer 1

A Walmart in Lawrenceville, Georgia would be considered a product market.

Step-by-step explanation:

A Walmart in Lawrenceville, Georgia would be considered a product market. A product market refers to the market where goods and services are bought and sold by consumers. In this case, the Walmart store is selling various products such as groceries, clothing, and household items to consumers in Lawrenceville, Georgia.

Answer 2

The correct answer is C. Both

Step-by-step explanation:

Walmart is one of the most important companies in the US. They have stores in 50 states of the United States of America and they also have one store in Puerto Rico. The Walmart who is located in Lawrenceville, Georgia is considered a Factor and Product Markets, due to the fact that services, goods, and resources are sold there.