ECO-01

In the textbook, a factor market is distinguished as a market for input, like labor, physical capital goods (machines), or financial capital. What factor market deals with machines? In your response provide an example of a machine factor market (different from the one listed in the textbook), and explain the changes in the variables of the machine factor market demand and supply curve.

In responding to your classmates’ posts next week, compare and contrast the variables of a labor factor market demand and supply curve. (Use an example of a labor factor market that is not listed in the book.)