Answer :
Firms in the resource market offer productive resources to households, who in this market play the role of consumers; whereas in the product market, businesses play the role of consumers, giving households money to spend on goods and services.
In the market for resources, households sell useful resources to companies, who then use them as consumers. In the market for products, households use them as consumers and pay companies for their goods and services.
The study of how society manages its finite resources is most closely tied to economics. Study of options and how society allocates its limited resources Home management is a branch of the study of constraint choice, which concerns with how to allocate scarce resources to meet insatiable human desires.Economics would be the study of how scarce resources are used, distributed among various people, and where and how societies produce valuable things.
This definition would be based on two basic tenets of economics: the limited availability of goods and the requirement that society use its resources wisely. Resources are the inputs that society uses to produce output or goods. Resources include inputs such as labor, cash, and land.Resources become scarce when there is a lack of the methods to achieve a goal are either few or expensive.A difficulty with the economy is scarcity. It requires the economic distribution of limited resources to accdesires.endless needs or desires.
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