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

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