{"id":5364,"date":"2019-02-14T09:31:59","date_gmt":"2019-02-14T04:01:59","guid":{"rendered":"http:\/\/astan.lk\/al_virtualclassroom\/?p=5364"},"modified":"2019-02-16T09:58:26","modified_gmt":"2019-02-16T04:28:26","slug":"market","status":"publish","type":"post","link":"https:\/\/astan.lk\/al_virtualclassroom\/market\/","title":{"rendered":"Market"},"content":{"rendered":"<p><strong>The market which exchanges consumer goods is defined as the goods and services market<\/strong><br \/>\n<strong>The market which exchanges land, labour and capital is defined as the factor market<\/strong><\/p>\n<ul>\n<li>Households demand goods and services and firms demand factors of production<\/li>\n<li>Firms supply goods and services for consumption and households supply factors of<br \/>\nproduction<\/li>\n<li>Demand for factors of production exists, is due to the demand for goods and services<\/li>\n<li>There is a derived demand for factors of production while there is a direct demand for<br \/>\nconsumer goods<\/li>\n<li>Demand for goods and services for consumption depends on their marginal utility and<br \/>\nthe demand for factors of production depends on the marginal productivity of these<br \/>\nfactors.<\/li>\n<li>Factor earning will be determined by factor prices and the amount of factors exchanged<br \/>\nfactor market.<\/li>\n<li>Factor earnings consist of transfer earnings and economic rent.<\/li>\n<li>The minimum income expected by a particular factor remaining in current use is identified<br \/>\nas transfer payments.<\/li>\n<li>Any earnings above transfer payments is the economic rent.<\/li>\n<li>Demand for factors of production exists, due to the demand for goods and services<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>The market which exchanges consumer goods is defined as the goods and services market The market which exchanges land, labour and capital is defined as the factor market Households demand goods and services and firms demand factors of production Firms supply goods and services for consumption and households supply factors of production Demand for factors [&hellip;]<\/p>\n","protected":false},"author":842,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[54,2681],"tags":[],"class_list":["post-5364","post","type-post","status-publish","format-standard","hentry","category-economics","category-unit-2-en"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.9 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Market - Learning &amp; 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