The economic environment consists of 3 basic entities:
A. Households (consumers), firms (producers), and manufacturers.
B. Producer (firms), Retailer and Consumer.
C. Households (consumers), firms (producers) and Government (co-ordinator)
D. None of the above.
Answer:C
The economic environment consists of 3 basic entities:
A. Households (consumers), firms (producers), and manufacturers. B. Producer (firms), Retailer and Consumer. C. Households (consumers), firms (producers) and Government (co-ordinator) D. None of the above.