Holiday in Al Jizah – Al Jizah Travel for e., when firms minimize costs). product markets: organized markets that facilitate the exchange of goods and services between buyers and sellers (also called output markets). productivity: the average output produced per factor (e.g., labor) within a specific time period. profit maximization: the process by which firms set output or prices in order to achieve the greatest possible profits. Holiday in Al Jizah – Al Jizah Travel 2016.