Practicing Success

Target Exam

CUET

Subject

Economics

Chapter

Macro Economics: Introduction

Question:
What do we mean by household?
Options:
A single individual who takes decisions relating to his/her own consumption
A group of individuals for whom decisions relating to consumption are jointly determined
None of above
Both of above
Correct Answer:
Both of above
Explanation:
By a household we mean a single individual who takes decisions relating to her own consumption, or a group of individuals for whom decisions relating to consumption are jointly determined.