Question

With increased access to wireless technology and lighter​ weight, the demand for tablet computers has increased substantially. Tablets have also become easier and cheaper to produce as new technology becomes available. When consumers purchase tablet​ computers, the interaction and exchange occurs in the __________ product factor ​market, while the resources used to produce the tablets are bought and sold in the __________ product factor market.

Answer 1

product market

factor market

Step-by-step explanation:

Throughout economics, the market for products refers to the marketplace in which the final produced commditites are offered to corporations and the financial sector. This does not consists dealing in raw input or other intermediate input with an emphasis on the selling of finished goods.

In comparison, a factor market is a market where output factors are bought and sold. In exchange for making factor payments at factor rates, businesses purchase productive resources. The relationship between the commodity and factor markets includes the derived demand theory.