The domestic services performed by women at home are categorized as: |
Non-monetary exchanges Externalities Personal services Social services |
Non-monetary exchanges |
The correct answer is Option (1) → Non-monetary exchanges The domestic services performed by women at home — such as cooking, cleaning, and child care — are considered personal services because they are performed for the benefit of household members and not exchanged for money in the market. These services do not generate monetary income, so they are excluded from national income accounting, even though they have economic value. |