Four Sectors of Economy

Front

What is the best description of a household in the economy?

Back

a house and all its occupants

Front

How do households create demand in the economy?

Back

individual preference

Front

What do households offer to the economy?

Back

Labor

Front

What do households trade for goods?

Back

money

Front

Which is the best example of a service?

Back

barber

Front

What is a house and its occupants called?

Back

household

Front

What is a person who purchases good for individual and household use?

Back

consumer

Front

What is the work that is exchanged for money?

Back

labor

Front

How do banks make a profit?

Back

interest

Front

What is the best description of a loan?

Back

borrowing money and repaying it with interest