CUET CUET Economics 2024 - Identify the correct statement in the context of Circular Flow of Income in an economy | PYQs + Solutions | AfterBoards
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CUET Economics 2024

Economics
>
National Income

Easy

Identify the correct statement in the context of Circular Flow of Income in an economy

Correct Option: 3
Correct statement is: Firms -> produce goods and services -> for consumers.
    \newline
  1. Household: supplies labor -> to firms.
    2. \newline
  2. Firm: produces goods -> and services.
    3. \newline
  3. Government: regulates economy -> and firms.

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