what are economic agents
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Step-by-step explanation:
Economic agents are consumers, producers, and/or influencers of capital markets and the economy at large. There are four major economic agents: households/individuals, firms, governments, and central banks. Some economists put governments and central banks together.
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- Economic agents are actors who intervene in the economy under certain rules determined by the economic system and economic institutions. They make decisions trying to resolve an optimization or choice problem. In this process, they mold the economy; for example, they decide the distribution of goods and services, taxes, laws, tariffs, etc.
- Another definition of economic agents, also known as economic actors, considers them as decisions makers who are able to recognize different economic factors, incentives, and motivations of the different economic groups.
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