Resource Allocation

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Factor Market
The market for the factors of production.
1 of 6
Product Market
The market for finished goods and services.
2 of 6
Allocation of Resources
How scare resources are distributed between competing uses.
3 of 6
Primary Production
The first stage of production involving the extractive industries.
4 of 6
Secondary Production
The manufacturing stage of the production process.
5 of 6
Tertiary Production
The distributive stage of productions also involving other service industries.
6 of 6

Other cards in this set

Card 2

Front

The market for finished goods and services.

Back

Product Market

Card 3

Front

How scare resources are distributed between competing uses.

Back

Preview of the back of card 3

Card 4

Front

The first stage of production involving the extractive industries.

Back

Preview of the back of card 4

Card 5

Front

The manufacturing stage of the production process.

Back

Preview of the back of card 5
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