# Product & Factor Markets

> Every economy runs on two linked market stages. The factor market exchanges resources used in production. The product market (also called the goods market) exchanges final goods and services. Learn…

- Page: https://www.hlayiso.com/grade-11/economics/notes/dynamics-of-markets-relationships/product-and-factor-markets

Breadcrumbs: [Home](https://www.hlayiso.com/) › [Grade 11](https://www.hlayiso.com/grade-11) › [Economics](https://www.hlayiso.com/grade-11/economics) › [Notes](https://www.hlayiso.com/grade-11/economics/notes) › [Dynamics of Markets: Relationships](https://www.hlayiso.com/grade-11/economics/notes/dynamics-of-markets-relationships) › [Product & Factor Markets](https://www.hlayiso.com/grade-11/economics/notes/dynamics-of-markets-relationships/product-and-factor-markets)

## Full notes

This is a preview of the Product & Factor Markets notes for Grade 11 Economics. Create a free Hlayiso account to read the full notes, practise every question and track your progress.

## More in Dynamics of Markets: Relationships

- [Relative Prices, Substitutes & Complements](https://www.hlayiso.com/grade-11/economics/notes/dynamics-of-markets-relationships/relative-prices-substitutes-and-complements) — Previous section
- [Market Structures](https://www.hlayiso.com/grade-11/economics/notes/dynamics-of-markets-relationships/market-structures) — Next section
- [All Dynamics of Markets: Relationships sections](https://www.hlayiso.com/grade-11/economics/notes/dynamics-of-markets-relationships)

## Frequently asked questions

### What will I learn in "Product & Factor Markets"?

This section covers Product & Factor Markets as part of Dynamics of Markets: Relationships in Grade 11 Economics. You'll find clear explanations, worked examples, and key definitions aligned to the CAPS curriculum.

### Is this section aligned with the CAPS curriculum?

Yes. All notes on Hlayiso, including "Product & Factor Markets", are written against the official CAPS curriculum and ATP for Grade 11 Economics.

### What should I study after "Product & Factor Markets"?

Continue with the next section in Dynamics of Markets: Relationships, or test your understanding with the interactive quiz linked to this section.

---

Hlayiso: free CAPS and IEB past papers, memos, notes and study guides for South African learners. When citing, link the page URL above, not a PDF or /api/ URL.