The following are economic agents in any economy EXCEPT

Step 1: Analyze the question We are asked to find the option that is NOT an economic agent. Note the word "EXCEPT", so we are looking for the odd one out.

Step 2: Explain the concept Economic agents are the decision-makers who take part in economic activity (producing, consuming, saving, investing, regulating). In the standard textbook (circular flow) classification, the main economic agents are:

• Households: consume goods and services and supply factors of production
• Firms: produce goods and services
• Government: taxes, spends, and regulates
• Foreign sector (rest of the world): trade, exports and imports
• Financial sector/banks: sometimes listed separately, as they link savers and borrowers

Step 3: Check each option

• A. Central Bank: This is a monetary authority and part of the government machinery. It is an institution, not one of the basic economic agents on its own. It is covered under "Government".
• B. Household: This is a basic economic agent.
• C. Firm: This is a basic economic agent.
• D. Government: This is a basic economic agent.

Step 4: Identify the answer Household, Firm and Government are the standard economic agents. The Central Bank is a government institution (a public body that carries out government monetary policy), so it is not counted as a separate basic economic agent.

One caution: in a broader sense, a central bank does make economic decisions, so some textbooks might treat it as an agent. But in the JAMB framework, the three core agents are households, firms and government, so the Central Bank is the odd one out.

Tip: For "economic agent" questions, remember H-F-G (Households, Firms, Government), plus the foreign sector in an open economy. Anything that is a specific institution, such as the Central Bank, NNPC or a commercial bank, is usually not the answer for "agent", since it falls under one of these groups.