Which of the following is/are the characteristic(s) of a household? [i]: It represents all the people who live together and who make joint economic decisions. [ii]: In a mixed economy, most of the factors of production are owned by households. [iii]: Households largely determine what goods and services are produced. a) [i] and [ii] only b) [i] and [iii] only c) [ii] and [iii] d) [i] ,[ii] and [iii]

Which of the following is/are the characteristic(s) of a household? [i]: It represents all the people who live together and who make joint economic decisions. [ii]: In a mixed economy, most of the factors of production are owned by households. [iii]: Households largely determine what goods and services are produced. a) [i] and [ii] only b) [i] and [iii] only c) [ii] and [iii] d) [i] ,[ii] and [iii]

Micro Economics For Today

10th Edition

ISBN:9781337613064

Author:Tucker, Irvin B.

Publisher:Tucker, Irvin B.

Chapter16: Economies In Transition

Section: Chapter Questions

Problem 1SQ

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Question

Question 9

Which of the following is/are the characteristic(s) of a household?

[i]: It represents all the people who live together and who make joint economic

decisions.

[ii]: In a mixed economy, most of the factors of production are owned by households.

[iii]: Households largely determine what goods and services are produced.

a) [i] and [ii] only

b) [i] and [iii] only

c) [ii] and [iii]

d) [i] ,[ii] and [iii]

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