household

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household

a group of individuals whose economic decision-making is interrelated. In economic theory, households perform two roles. On the one hand, they enter the market place as buyers or CONSUMERS of goods and services produced by firms; on the other hand, they provide FACTOR INPUTS to firms in order to produce those goods and services. The term ‘households’ is used primarily in macro- (national income) analysis, while the term ‘consumers’ is used in micro- (supply and demand) analysis. See CIRCULAR FLOW OF NATIONAL INCOME MODEL, PERSONAL SECTOR.
Collins Dictionary of Economics, 4th ed. © C. Pass, B. Lowes, L. Davies 2005
References in classic literature ?
On the household side, chambers of presence and ordinary entertainments, with some bed-chambers; and let all three sides be a double house, without thorough lights on the sides, that you may have rooms from the sun, both for forenoon and afternoon.
During the day she painted her pictures and attended to the cares of the household; then, when night came, she colored the engravings.
The FRB/US model takes into account decisions in three sectors: (1) the household sector, where households make choices about spending, saving, and entering or leaving the workforce; (2) the private business sector, where firms make investment, employment, pricing, production, and financial plans; and (3) the public sector, where local, state, and federal governments (including the Federal Reserve) set monetary and fiscal policies.(10) FRB/US models the behavior of these sectors in the aggregate, but some equations do allow for differences among households or among firms.
I also use the household income information to quantify the impact of the increasing number of lower-income households with credit cards.
For purposes of determining whether cash remuneration of less than $1,000 has been paid to the household employee, the cash remuneration paid to a household employee by an administrator, executor or trustee in a calendar year will be aggregated with the cash remuneration paid to the household employee in the same calendar year by the household of the decedent or beneficiary for whom the administrator, executor or trustee is acting.(5) Currently, there is no published guidance as to how administrators, executors and trustees report and pay these taxes.
Shortly thereafter, after paying th worker $400, the household employer dies.
The other growing half of the household market includes single parents, people who live alone, and other kinds of families and nonfamilies.
We agree with the importance of parents' education, but consider that decisions taken by the head of the household also plays an important role, especially in case of girls.
[ClickPress, Thu Oct 11 2018] The household polishes market is making large strides driven by the rising applications of polishes and scouring powder in the maintenance and cleaning processes of infrastructures and furniture, world over.
(3) Debt growth has resulted in an increase in the household debt burden (debt as a percentage of disposable income), which now exceeds the level prevailing at the end of the 1980s.