EBK MICROECONOMICS
10th Edition
ISBN: 8220100543425
Author: MELVIN
Publisher: Cengage Learning US
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Question
Chapter 4, Problem 1E
To determine
Whether a family is a household or household is a family
Expert Solution & Answer
Answer to Problem 1E
According to the U.S. Census Bureau definition, a family and a household are not the same thing. A household is a broader concept than a family. There can be a family household or a non-family household.
Explanation of Solution
A household is a concept where a single or multiple number of people occupy a housing unit. All households need not be a family. It may be a cluster of single or unrelated people living at one place. A family, on the other hand, is a place where people are related to each other either by birth or marriage, or adoption. A family may also contain unrelated people.
Economics Concept Introduction
Concept Introduction:
Household − One or more people occupying a housing unit comprises a household.
Family − Two or more individuals who are connected by birth, adoption or marriage, constitutes a family. Although, they may also include other unrelated people.
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Chapter 4 Solutions
EBK MICROECONOMICS
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