3. Which of the following statements would best describe Firms? A. They are the main buyers of Factors 9 production B They are the leading producers a commodities c. They consist of both private and government enterprises. D. All of the above. 4. Househols spend an enormous portion of thel r Income in purchasing goods and services from the: A. producers C. other consumers B. government D. none

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3. Which of the following statements would best describe Firms? A. They are the main buyers of Factors 9 production B They are the leading producers a commodities c. They consist of both private and government enterprises. D. All of the above. 4. Househols spend an enormous portion of thel r Income in purchasing goods and services from the: A. producers C. other consumers B. government D. none

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3. The statement that would best describe firms is:D. All of the above.Explanation: - Firms are indeed the main buyers of factors of production (A) as they purchase labor, capital, and raw materials to produce goods and services.- They are also leading producers of commodities (B) since they manufacture and supply products to the market.- Firms consist of both private and government enterprises (C), encompassing a wide range of business structures.4. Households spend an enormous portion of their income in purchasing goods and services from the:A. producersExplanation:- Households primarily buy goods and services from producers, which include businesses and firms that create and sell products for consumption.

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