The market factor is a market in which production factors are bought or sold. Its return for making variable transactions at variable rates, companies purchase investment resources, and the companies will get output factors or efficient capital. Its product's price would be where customers goto the company to manufacture goods and services.
Sample Response: The Factor Market is where the businesses go to get the factors of production or productive resources (C.E.L.L). The Product Market is where consumers go to get goods and services produced by the businesses.
Steel was important to the second Industrial Revolution because it was a better material to use then iron. Steel is lighter, cheaper and stronger than iron, making it ideal for all sorts of purposes
