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:

The correct answer is option 4: Both of above

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.