Final answer:
Households are generally buyers in the goods and services market, purchasing items from businesses, and sellers in the labor market, offering their labor and skills for income.
Step-by-step explanation:
In the context of economic markets, households typically play distinct roles within the goods and services market and the labor market. In the goods and services market, households generally act as buyers. They use their income to purchase goods and services offered by businesses.
On the other hand, households are primarily sellers in the labor market. Members of households offer their labor, skills, and expertise to businesses in exchange for wages, salaries, and other forms of income.