Final answer:
Households are active participants in the goods and services market and the labor market, playing both buyer and seller roles.
Step-by-step explanation:
Households play a significant role in the economy, rather than a minor role. In the goods and services market, households are primarily buyers as they consume and demand goods and services. They contribute to the economy by purchasing products.
In the labor market, households are primarily sellers as they provide labor or human resources necessary for the production of goods and services. This includes individuals working in various industries and occupations.
Overall, households are active participants in both the goods and services market and the labor market, making them crucial to the functioning of the economy.