The Legislative branch is responsible for passing laws, the Medium Term Expenditure Framework plans the national budget for three years, and households sell factors of production to various sectors.
The branch of government responsible for passing laws in a country is the Legislative branch. This branch is tasked with making and revising laws, providing administrative oversight, and representing the constituents to the government.
The term over which the national budget is planned for three years is known as the Medium Term Expenditure Framework. It helps in setting out the government's expenditure priorities over the medium term.
Households sell factors of production to Business, government, and the Foreign sector, as they play a crucial role in the economy by providing resources and labor.
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