The three principal economic unit in any system are

  • A trade, industry and banking
  • B workers, consumers and shareholders
  • C households, firms and governments
  • D comapnies, industry and plants
waec 2007economics

The correct answer is C. households, firms and governments

The three principal economic units in any system are C. households, firms, and governments.

These three units play a crucial role in the functioning of an economy.

Households provide labour and consume goods and services, firms produce goods and services, and governments regulate economic activities and provide public goods and services.

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