Question

2 in which of the three market arenas iseadh ing goods traded? a. The athletic skills of the Green Bay Packenst 2.2 In w Packers quan Aaron Rodgers b. Shares of Nike stock c. The hair-braiding abilities of a hair stylist in Abn d. A Gibson Les Paul Custom guitar e. Corporate bonds issued by Verizon f. An Apple Watch

Answer 1

The three types of market arenas as per macroeconomics are goods market, labour market and money market. Classifying the below as per the markets and providing logic behind the same,

1. Athletic skills of Grrenbay's quarterback: The athletic skills can be thought of as the quarteback's labour towards rugby. And this skill will be valued at the wage he would be receiving for signing / transferring acroos clubs. Hence, it will fall under labour market.
2. Shares of Nike stock: Although sale of nike products fall under goods markets, stock shares of Nike company is a monetary investment and fall in stock price means that monetary valuation of company has decreased which gradually would impact it's products. Hance, this would be money market
3. Hair braiding abilities of hair stylist: The skills of the stylist is an outcome of her labour towards hair styling profession. And this skill will be valued when she would receive wage against her services. Hence, this is a case of labour market
4. A gibson les paul custom guitar: This is clearly a product that is sold in the goods market (assuming here is organised way to contact the manufacture and specify the buyer's customisation)
5. Corporate bonds issued by Verizon: Bonds are financial products when investor money is loaned out to the company in exchange of a fixed monetary return (rate on investment). Hence this does not involve actual trade of goods or labour. Hence it is monetary market
6. Apple watch: This is a product by company Apple sold in goods market across economies