Refers to the sector in which there are productions of goods and services through combined utilization of raw materials and other production factors such as labour force, land and capital or by means of production process. Market is the determiner of what society should produce and through what combination of production factors. There are two major markets in this sector: 1) production factor market, which includes raw material market, labour market, land and capital market. 2) output market, with the business operators managing the utilization of production factors, and raw materials in order to produce goods and services as exemplified in agricultural and manufacturing productions.
