Outcome: Resource Markets

Resource Markets include Land, Capital and the Labor Market. What you’ll learn to do: describe the incomes earned by the factors of production (land, labor, capital, entrepreneurship) wages, interest, rents, and profit.By the end of this lesson, you will be able to explain why the shape of the supply curve for land, the different ways money is raised in the capital market, and how firms determine how many workers they should hire to maximize economic

In this outcome, you will learn about income as it relates to land, labor and capital markets.

LEARNING ACTIVITIES

The learning activities for this section include the following:

  • Video: Economic Rent
  • Reading: Resources with a fixed supply
  • Reading: Natural Resources and Conservation
  • Video: Financial Markets
  • Readings: Equity and Bond Markets
  • Reading: Time and Interest Rates
  • Reading: Interest Rates and Capital
  • Reading: Loanable Funds
  • Self Check: Factors of Production
  • Video: Labor in a Competitive Market
  • Reading: Labor and the Price of Wages
  • Reading: The Demand for Labor
  • Case in Point: Computer Technology Increases the Demand for Some Workers and Reduces the Demand for Others
  • Reading: The Supply of Labor
  • Case in Point: An Airline Pilot’s Lament
  • Reading: Labor Markets at Work
  • Case in Point: Technology and the Wage Gap
  • Reading: Time and Interest Rates
  • Reading: Interest Rates and Capital
  • Reading: Loanable Funds
  • Reading: Natural Resources and Conservation
  • Self Check: Factors of Production

Take time to review and reflect on each of these activities in order to improve your performance on the assessment for this section.

License

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ACC Principles of Microeconomics by Lumen Learning is licensed under a Creative Commons Attribution 4.0 International License, except where otherwise noted.