ECONOMICS
MONEY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Section of the economy made up of individuals or families
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Firms
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Households
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Businesses
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Factor
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Explanation:
Detailed explanation-1: -The household economy describes the collective economic activities of households. Often the household economy is called the household sector as distinct from the business, government and foreign sectors. However the household sector is large enough to deserve the term household economy.
Detailed explanation-2: -There are four sectors and three markets in the circular flow of income model. The four sectors are the household sector, the firm sector, the government sector and the foreign sector. The three markets are the goods market, the factor market and the financial market respectively.
There is 1 question to complete.