There are many ways in which government interactions with households. Households refer to people in the economy who own and control the factors of production, being natural resources, capital, labour and entrepreneurship.
Up Next in Term 1
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Government Revenue: The National Budget
The National Budget describes how money raised through taxes and loans will be divided among national, provincial and local governments
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Government Expenditure: National Budget
National Budget expenditure is what the government spends money on to make our lives better, from the taxes they collect from households and businesses.
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Standard of Living
We discuss the different types of societies that exist around the world and in our country. The societies being self- sufficient societies, modern societies and rural societies. We briefly go through the impact of development on the environment, unemployment, and productive use of resources to pr...
