Your grocery store in India is having trouble getting the local farmers to supply you with the proper produce. This is a problem with India's resource market.
The term "resource market" refers to a market that provides goods and services to businesses, organizations, and firms in exchange for money. Markets that offer firms the resources they require to deliver the products or services they offer are known as resource markets.
One of the three main categories of macroeconomic markets is the resource market, sometimes known as the factor market. Financial markets and product markets are the other two. The macroeconomic analysis of full employment and unemployment must take into account resource markets.
firms demand the resources that maximize profit and households supply the resources that maximize utility.
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