question archive When you purchase a new surfboard you do so in the: a) Resource market, b) Product market, c) Input market, d) Factor market
When you purchase a new surfboard you do so in the: a) Resource market, b) Product market, c) Input market, d) Factor market
Subject:MarketingPrice:2.88 Bought3
When you purchase a new surfboard you do so in the:
a) Resource market,
b) Product market,
c) Input market,
d) Factor market.
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The correct answer is b) Product market.
When a new surfboard is produced for final consumption and not for reselling, it is purchased from the product market. It will be purchased at the prevailing market prices.
