Answer:
Product Market : Goods and services produced by businesses are sold to households.
Factor Market: Markets where services of the factors of production are bought and sold such as labor, capital, the market for raw materials, and the market for management or entrepreneurial resources.
The basic concepts of socialism are as follows; the main idea is that people should live in an egalitarian society where everybody would contribute as much as he can and take as much as he needs, this would give us a society where everybody would be equally well off and nobody would have less. Everything would also be state owned - this has been a solution that happened in the past.
In my opinion, pure socialism cannot succeed but perhaps using some things from it could be very beneficial.
Learn more at brainly.com/question/865194
#SPJ1
Stronger weapons made of bronze allowed soldiers to better protect the society. The new trade provided jobs for farmers who were put out of work as the result of new tools
It made indians second class citizens in their own country
