Question

How do households and firms interact with each other?​

Answer 1

Households and firms interact in two markets: the market for goods and services and the market for factors of production. In the market for goods and services, firms are sellers and households are buyers. In the market for factors of production, firms are buyers and households are sellers.

Answer 2

Answer:

⭐Answer. Answer: Households interact with business firms it two distinct ways: (1) households supply economic resources, such as labor, to businesses in exchange for income, and (2) households use their incomes to buy goods and services produced and sold by business firms.

Explanation:

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