In Input, or Factor, Markets

question 28

Multiple Choice

In input, or factor, markets

• A) consumers purchase products.
• B) firms supply goods.
• C) households supply resources.
• D) households demand goods.

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Definitions:

Peasants

Historically, members of the lowest class in many societies, especially those who worked the land, either as small farmers or as laborers with few rights and low social status.

Lord of the Estate

A historical term referring to a noble or landowner with authority over a particular estate, including the land, buildings, and tenant workers.

Village

A small community or settlement, typically larger than a hamlet but smaller than a town, often characterized by a rural lifestyle.

Tour of France

An annual men's multiple stage bicycle race primarily held in France, considered one of the most prestigious and challenging events in the sport of cycling.