Correct statement is: Firms -> produce goods and services -> for consumers.
Household: supplies labor -> to firms.
Firm: produces goods -> and services.
Government: regulates economy -> and firms.
CUET UG 2024 — Economics Macro
Identify the correct statement in the context of Circular Flow of Income in an economy
Verified 13 Jul 2026.
Household receives factor services from firms.
Household invests while firm saves.
Firms produce goods and services.
Household supplies factor services to Government.
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