what is household sector
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HOUSEHOLD SECTOR: The aggregate macroeconomic sector that includes the entire wants and-needs-satisfying population of the economy. The primary economic role of the household sector is consumption. The share of gross domestic product purchased by the household sector is termed consumption expenditures.
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HOUSEHOLD SECTOR: The aggregate macroeconomic sector that includes the entire wants and-needs-satisfying population of the economy. The primary economic role of the household sector is consumption. The share of gross domestic product purchased by the household sector is termed consumption expenditures.
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A household consists of one or more people who live in the same dwellings and also share meals or living accommodation, and may consist of a single family or some other grouping of people
In short
The household sector includes the entire population of society. It includes all of the consumption-seeking members of society--the entire population. It IS society. In effect, the economy exists to satisfy the wants and needs of the household sector.
In short
The household sector includes the entire population of society. It includes all of the consumption-seeking members of society--the entire population. It IS society. In effect, the economy exists to satisfy the wants and needs of the household sector.
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