In Which of the Three Basic Markets (Goods-And-Services, Labor, Money)

question 58

Essay

In which of the three basic markets (goods-and-services, labor, money) is each of the following items traded?
(a) Rory McIlroy's golf skills
(b) A pack of cigarettes
(c) A government bond
(d) A share of IBM stock
(e) An IBM computer
(f) The abilities of IBM's CEO

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Definitions:

Constitutional Freedoms

Fundamental rights and liberties protected by the constitution of a country, such as freedom of speech, religion, and assembly.

Progressive Reformers

Activists and policy-makers from the late 19th and early 20th centuries advocating for social, political, and economic reforms to address societal issues.

Public Good

A commodity or service that is provided without profit to all members of a society, either by the government or a private individual or organization.

Individual Rights

Rights guaranteed to individuals, typically regarding personal freedom, fairness, and protection from government overreach, often outlined in a country's constitution.