Answer to Question #193600 in Economics for Mike

Question

1.9 In the circular flow of the economy, with a household sector and a business enterprise 

sector, the role(s) of the market for goods and services is/are … .

(a) to determine the price of goods and services

(b) to determine the remuneration of factors of production

(c) to determine how households will determine which goods and services to buy

(d) to determine how factors of production will be allocated to supply the different goods 

and services

[1] a b c d

[2] a b

[3] a c

[4] b d

[5]

Answer 1

[1] a b c d