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Marco question The most important economic unit is _____________ a. family b. labor union c. governments...

Marco question

The most important economic unit is _____________

a.

family
b.

labor union
c.

governments
d.

foreign nations
Business   Economics   
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Answer #1

Correct option is a. family

The most important economic unit is family.

In a traditional economic system family is the most important economic unit. A family comprises of the working citizens of a country. Families make up institutions that are required for smooth & successful running of society. Families promote stability in an economy. There are various needs of families like food, clothing, shelter, etc. Most of the production activities are done to fulfil the needs of the family. Family serve as the basic foundation of society's economic institutions.

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