What role do households play in the financial system?

In a market economy households provide resources and labor and purchase goods and services while firms provide goods and services and purchase resources and labor. You can view the relationship between households and firms as a "circular flow"

b.provides a written record of the transaction

the effect of the ming leaders banning ships with more than two masts was that there was no further construction of ships masts, because there was a surplus. ming emperors disallowed foreign exploration