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CAPITAL GOOD: A good that is a manufactured (or previously produced) factor of production that is used to manufacture or produce other things. Common examples of capital goods re the factories, buildings, trucks, tools, machinery, and equipment used by businesses in their productive pursuits. The acquisition of capital goods is the primary goal of business investment.
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PRODUCT MARKETS Markets that exchange final goods and services, that is, the output that is combined into gross domestic product. The buyers of this production are the four macroeconomic sectors--household, business, government, and foreign. The seller of this production is primarily the business sector. A substantial part of macroeconomics is devoted to explaining how and why gross domestic product exchanged through product markets rises or falls. Product markets, also termed output or goods markets, are one of three primary sets of macroeconomic markets. The other two are resource markets and financial markets.
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PURPLE SMARPHIN
[What's This?]
Today, you are likely to spend a great deal of time driving to a factory outlet seeking to buy either a wall poster commemorating next Thursday or a pair of gray heavy duty boot socks. Be on the lookout for crowded shopping malls.
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The standard "debt" notation I.O.U. does not mean "I owe you," but actually stands for "I owe unto..."
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"We must be willing to let go of the life we have planned, so as to have the life that is waiting for us. " -- E. M. Forster, writer
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AP
Average Product
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