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6 Cards in this Set
- Front
- Back
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Factor Markets
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Markets in which factors of production - land, labor, capitol and entrepreneurship - are bought and sold
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Functional distribution of income
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The percentage distribution of income among the factors of production - labor, land, capitol, and entrepreneurship.
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Factors of Production
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The Productive resources used to produce goods and services - land, labor, capitol and entrepreneurshiop
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Goods Markets
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Markets in which goods and services are bouight and sold.
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Capital
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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
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Personal distribution of income
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The percentage distribution of income among individual persons.
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