Household, Managerial Economics

Household

This refers to all the people who live under one roof and who make or are subject to others making for them, joint financial decisions. The household decisions are assumed to be consistent, aimed at maximizing utility and they are the principal owners of the factors of production. In return for the factors or services of production supplied, they get or receive their income e.g.

  • Labour - wages and salaries
  • Capital - interest
  • Land - rent
  • Enterprise - profit
Posted Date: 11/27/2012 4:49:49 AM | Location : United States







Related Discussions:- Household, Assignment Help, Ask Question on Household, Get Answer, Expert's Help, Household Discussions

Write discussion on Household
Your posts are moderated
Related Questions
Now, let's modify our model a bit. Let's add a fourth sector of spending so that Y = C + I + G + X n with X = X o and M = M = f (Y). Will this change, by itself, increase, decrea

The theory of consumer's behavior seeks to explain the determination of consumer's equilibrium. Consumer's equilibrium refers to a situation when a consumer gets maximum satisfacti


production function


Refer to above figure. Albania refused to engage in international trade for ideological reasons. To maximize its economic welfare it would choose to produce at which point in the d

Q.2. On the basis of the analysis of the case above, what is your opinion about legalizing marijuana in Canada ?mum 100 words accepted#


is Indian companies running a risk by not giving attention to cost cutting?

What is Microeconomics It studies the principles and problems of an individual business firm or an individual industry. It services the management in evaluating and forecasting