List and Briefly Explain the Three Market Arenas

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The Answer is The three market arenas are the goods-and-services market, the labor market, and the money market. The goods-and-services market includes purchases of goods and services by households from firms or firms buying goods and services from each other. The labor market is where both firms and government purchase labor from households. Households supply the labor and government and firms demand labor. In the money market households purchase stocks and bonds from firms. Households buy these instruments with the expectation that they will earn income in the form of dividends or capital gains from stocks and interest on bonds.

List and Briefly Explain the Three Market Arenas

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