What is the role of business firms in an economy?1. Public expenditure

1.	What is the role of business firms in an economy?1. Public expenditure2. To produce goods3. To generate income4. To save
Answer» Correct Answer - Option 2 : To produce goods The correct answer is To produce goods In economics, producers are often referred to as firms or companies that play a role in using inputs and producing goods and services. Firms play a key role in deciding what to produce and how to produce. Other functions include: Firms employ different factors of production. Developing new products. Investing in capital and new technology. Providing goods and services for the consumer. Public expenditure is done by the Government. Generation of income and savings is primarily an individualistic action.

What is the role of business firms in an economy?1. Public expenditure2. To produce goods3. To generate income4. To save

Answer» Correct Answer - Option 2 : To produce goods

The correct answer is To produce goods

In economics, producers are often referred to as firms or companies that play a role in using inputs and producing goods and services.
Firms play a key role in deciding what to produce and how to produce.
Other functions include:
- Firms employ different factors of production.
- Developing new products.
- Investing in capital and new technology.
- Providing goods and services for the consumer.
Public expenditure is done by the Government.
Generation of income and savings is primarily an individualistic action.

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What is the role of business firms in an economy?1. Public expenditure2. To produce goods3. To generate income4. To save

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