Question

1. household

place where goods and services are exchanged for money
2. firm
private organization that produces goods and services for consumption
3. product market
expenditure for which government receives nothing in return
4. factor market
place where resources are exchanged for money
5. public good
group or individuals who live together and share income

Answer 1

A household is a group who live together and share income Public good os expenditure for which the government receives nothing I return a product market is a place where resources are exchanged for money and a firm is a private organization that produces goods and services