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6 Cards in this Set

  • Front
  • Back
Factor Markets
Markets in which factors of production - land, labor, capitol and entrepreneurship - are bought and sold
Functional distribution of income
The percentage distribution of income among the factors of production - labor, land, capitol, and entrepreneurship.
Factors of Production
The Productive resources used to produce goods and services - land, labor, capitol and entrepreneurshiop
Goods Markets
Markets in which goods and services are bouight and sold.
Capital
The tools, instruments, machines, buildings, and other constructions that have been produced in the past and that businessess now use to produce goods and services
Personal distribution of income
The percentage distribution of income among individual persons.