How does the market for inputs like labor differ from the market for goods and services? (Check all that apply.) Part 2 A. Firms are sellers in the market for goods and services, while individuals are sellers in the market for inputs. B. The demand for inputs is derived from the demand for final goods and services. C. Firms are buyers in the market for inputs, while individuals are buyers in the market for goods and services. D. The market for inputs resolves shortages and surpluses through government-supervised negotiations.
How does the market for inputs like labor differ from the market for goods and services? (Check all that apply.) Part 2 A. Firms are sellers in the market for goods and services, while individuals are sellers in the market for inputs. B. The demand for inputs is derived from the demand for final goods and services. C. Firms are buyers in the market for inputs, while individuals are buyers in the market for goods and services. D. The market for inputs resolves shortages and surpluses through government-supervised negotiations.
Chapter3: Scarcity, Trade-offs, And Production Possibilities
Section: Chapter Questions
Problem 5P
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How does the market for inputs like labor differ from the market for goods and services?
(Check
all that
apply.)
Part 2
A.
Firms are sellers in the market for goods and services, while individuals are sellers in the market for inputs.
B.
The demand for inputs is derived from the demand for final goods and services.
C.
Firms are buyers in the market for inputs, while individuals are buyers in the market for goods and services.
D.
The market for inputs resolves shortages and surpluses through government-supervised negotiations.
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