Asked by Kelvyn almanzar on Jul 07, 2024
Verified
Household production consists of households producing goods and services,like meals,cleaning and child care,instead of firms.
Household Production
The creation of goods and services within a home for personal use, employing family labor and resources.
Child Care
The care and supervision of a child or multiple children at a time, whose ages can range from two weeks to eighteen years. Child care is the action or skill of looking after children by a day-care center, nannies, babysitter, teachers, or other providers.
- Grasp concepts related to household production and the differentiation between private goods and public goods.
Verified Answer
LW
Linzey WatkinsJul 08, 2024
Final Answer :
True
Explanation :
Household production refers to the production of goods and services by households, such as cooking meals, cleaning, and taking care of children, instead of firms.
Learning Objectives
- Grasp concepts related to household production and the differentiation between private goods and public goods.