Resource Markets (1 Viewer)

[Silver Persian]

I have two textbooks - one says that a resource market only involves the transactions surrounding raw materials, but the othern says that it also includes labour and capital markets.

Anyone know which is right. I tend to feel the second one is correct because of tbe factors market in economics, but im not sure

 

[goan_crazy]

RESOURCE MARKET is where the factors of production
(land, labour, capital and enterprise) are bought and sold
E.g. wheat

 

[phemale_souljah]

I have two textbooks - one says that a resource market only involves the transactions surrounding raw materials, but the othern says that it also includes labour and capital markets.

Anyone know which is right. I tend to feel the second one is correct because of tbe factors market in economics, but im not sure

yeah...just think...what resources are needed for the trade of commodities? obviously anything traded with economic value. so as everyone else mentioned; labour, capital, entrepreneurship and land.