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VERTICAL AXIS: In a graph, this is one of two lines that intersect at a right angle. This is the 'Y-axis' that runs up and down.
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PRODUCT MARKETS: Markets used to exchange final good or service. Product markets exchange consumer goods purchased by the household sector, capital investment goods purchased by the business sector, and goods purchased by government and foreign sectors. A product market, however, does NOT include the exchange of raw materials, scarce resources, factors of production, or any type of intermediate goods. The total value of goods exchanged in product markets each year is measured by gross domestic product. The demand side of product markets includes consumption expenditures, investment expenditures, government purchases, and net exports. The supply side of product markets is production of the business sector. See also | goods | services | circular flow | aggregate market | household sector | business sector | government sector | foreign sector | consumption expenditures | investment expenditures | government purchases | net exports | final good | intermediate good | resources | factors of production | resource markets | factor markets | financial markets | gross domestic product |
Recommended Citation:PRODUCT MARKETS, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2025. [Accessed: July 18, 2025].
AmosWEB Encyclonomic WEB*pedia:Additional information on this term can be found at: WEB*pedia: product markets
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KEYNESIAN CROSS A diagram illustrating the basic Keynesian theory of macroeconomics, with aggregate expenditures measured on the vertical axis and aggregate production measured on the horizontal axis, with the relation between aggregate expenditures and aggregate production represented by a positively-sloped aggregate expenditures line. The "cross" aspect of this diagram is the intersection between the aggregate expenditures line and a 45-degree line indicating every point of equality between aggregate expenditures and aggregate production. The "Keynesian" aspect of this diagram is derived from John Maynard Keynes, the developer and namesake of Keynesian economics.
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YELLOW CHIPPEROON
[What's This?]
Today, you are likely to spend a great deal of time searching the newspaper want ads trying to buy either a T-shirt commemorating the 2000 Olympics or a genuine fake plastic Tiffany lamp. Be on the lookout for telephone calls from former employers.
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A half gallon milk jug holds about $50 in pennies.
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"A winner is someone who recognizes his God-given talents, works his tail off to develop them into skills, and uses those skills to accomplish his goals. " -- Larry Bird, basketball player
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NAFTA
North America Free Trade Agreement
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