Economy, asked by aadya1234588, 9 months ago

Explain the importance of household in an economy
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Answers

Answered by hridaypathak14
2

Answer:

Households are used to calculate the GDP of an economy and their behavior is recorded to see how may they react in the future, for example, a household right now is collecting all the essential products which is seen in economics before.

Answered by Itzmisspari03
11

Answer:

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here's ur answer

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In a market economy households provide resources and labor and purchase goods and services while firms provide goods and services and purchase resources and labor. You can view the relationship between households and firms as a "circular flow " drawn below.

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