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Households provide labor, income, and consumption of goods and services. They are fundamental units of consumption and production in an economy, contributing to economic growth through their spending and participation in the workforce.

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1y ago

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Households pay firms for goods and services. Firms supply households with goods and services. The purchase and supply of goods and services takes place in the?

product market


Households pay firms for goods and services. Firms supply households with goods and services. The purchase and supply of goods and services takes place in the .?

product market


Households pay firms for goods and services Firms supply households with goods and services the purchase and supply of goods and services takes place in the?

It's Product Market.


What has the author Olivier Donni written?

Olivier Donni has written: 'Labor supply, home production and welfare comparisons' -- subject(s): Economic aspects of Households, Households, Labor supply, Mathematical models


Businesses provide an _________ to households through employment.?

Income


In a market economy income is primarily determined by?

the quantities and prices of the resources that households supply.


In the circular flow model, households supply firms with which of these items?

labor, capital, and resources


What sectors of the economy provide the most savings?

households and bussiness:)


Is each household entitled to a separate water supply?

In most cases, each household is connected to a public water supply system that serves multiple households. However, in some remote or rural areas, households may have their own private water supply from wells, boreholes, or rainwater harvesting systems.


In a market economy the distribution of output will be determined primarily by?

the quantities and prices of the resources that households supply.


In the circular flow model households supply firms with which items?

Labor, capitital, and raw materials.


What way do businesses and households both supply and demand in the circular flow model?

Households are made up of individuals who both spend money and are the recipients of money. Businesses do the same.