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]
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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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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