In the Product Markets, Households

question 46

Multiple Choice

In the product markets, households

• A) are the buyers of goods and services.
• B) are the sellers of resources.
• C) are neither buyers nor sellers in the market.
• D) none of the above is correct.

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Definitions:

Value-Adding Activity

Any action or process that increases the worth of a product or service to customers, making it more desirable or enhancing its quality.

Finished Goods

Products that have completed the manufacturing process and are ready to be sold to customers.