how do housholds and firms interact with each other in a modern economy
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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. ... The second type of interaction occurs in markets for products.
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Explanation:
Household buy goods and services, when businesses produce those goods and services and pay wages.
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