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The factor market refers to the market where factors of production, such as labor, capital, and land, are bought and sold.
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Labor Market: This term refers to the specific part of the factor market where workers are hired by businesses.
Capital Market: This term refers to the part of the factor market where financial capital is bought and sold, including stocks and bonds.
Land Market: This term refers to the section of the factor market where natural resources and land are traded.