factor market

Noun

 * 1)  The system or infrastructure for economic exchange within which factors of production (such as labor, materials, or capital) are purchased or sold.
 * 2) * 1942, John T. Dunlop and Benjamin Higgins, "“Bargaining Power” and Market Structures," Journal of Political Economy, vol. 50, no. 1 (Feb.), p. 24:
 * The instance of a few buyers and many sellers in the factor market with many buyers and sellers in the product market is typified by the classic cases of unorganized wage-earners in company towns, for instance, textile and coal.