Which of the following types of markets typically include wholesalers or retailers?

• A. Labor markets
• B. Financial markets
• C. Product markets
• D. Factor markets

Answer: (C)

Verified step by step guidance

1. Step 1: Understand the definition of each market type. Labor markets involve the buying and selling of labor services, where workers offer their labor and firms demand it.
2. Step 2: Recognize that financial markets deal with the exchange of financial assets like stocks and bonds, facilitating investment and capital flow.
3. Step 3: Identify that product markets are where final goods and services are bought and sold, involving intermediaries such as wholesalers and retailers who distribute products from producers to consumers.
4. Step 4: Know that factor markets refer to markets for inputs used in production, such as land, labor, and capital, but do not typically include wholesalers or retailers.
5. Step 5: Conclude that wholesalers and retailers are part of the distribution chain in product markets, making product markets the correct answer.