explain the consumers equlibrium

Question : In the circular flow of income, households are the ______ of factors of production and ______ of goods and services.

Option 1: producers, consumers

Option 2: suppliers, consumers

Option 3: consumers, producers

Option 4: consumers, suppliers

Question : In the circular flow of income, firms are the ______ of goods and services and ______ of factors of production.

Option 1: consumers, producers

Option 2: suppliers, consumers

Option 3: producers, consumers

Option 4: consumers, suppliers

Question : What is the responsibility of consumers under the Consumer Protection Act?

Option 1: Consumers have no responsibilities; only rights

Option 2: Consumers are responsible for ensuring fair trade practices

Option 3: Consumers must report any violation of their rights to the authorities

Option 4: Consumers must pay higher prices for goods and services