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
Q 3. What is Demand Forecasting? Explain in brief various methods of forecasting demand.


Economies and diseconomies of scale are of two types- external andinternal. Internal economies and diseconomies are those which a firm reaps as a result of its own expansion. Conve

INTERNATIONAL FINANCIAL INSTITUTIONS In July 1944, a conference took place at Bretton Woods in New Hampshire to try to establish the pattern of post-war international monetary

income generation process through investment multiplier

define scarcityand oppurtunity cost.show how these concepts are useful in managerial decision making

Market Structures This refers to the nature and degree of competition within a particular market.  Capitalist economies are characterised by a large range of different market

PROGRESSIVE TAX A progressive income tax system is one where the higher the income, the greater the proportion paid in taxes.  This is effected by dividing the taxpayers' inco

NORMAL AND SUPERNORMAL PROFITS Normal profit refers to the payment necessary to keep an entrepreneur in a particular line of production. In economics, it is generally belie

example problems for the types of pricing