WAEC - Economics (2014 - No. 10)
The components of a three-sector economy are
banks, schools and hospitals
workers, producers and marketers
households, firms and the government
producers, retailers and wholesalers
Explicació
The three-sector economy involves three sectors namely, households, business, and government. The addition of the government in an economy results in bringing two variables in an economy. These variables are government expenditure (act as injections to income) and taxation (act as leakage or withdrawals from income).