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Household economics analyses all the decisions made by a household. These analyses are both at the microeconomic and macroeconomic level. This field analyses the structures of households, the behavior of family members, and their broader influence on society, including: household consumption, division of labour within the household, allocation of time to household production, marriage, divorce ...
Economists have different models of decision making regarding the allocation of labor within households. Some assume that there is a single decision maker in the household. [47] If the head of the household is altruistic, he will get some satisfaction when he makes a decision that takes into account the benefit of other household members. Gary ...
The percentage of nuclear-family households is approximately half what it was at its peak in the middle of the 20th century. [6] The percentage of married-couple households with children under 18, but without other family members (such as grandparents), has declined to 23.5% of all households in 2000 from 25.6% in 1990, and from 45% in 1960.
A household consists of one or more persons who live in the same dwelling. It may be of a single family or another type of person group. [1] The household is the basic unit of analysis in many social, microeconomic and government models, and is important to economics and inheritance. [2]
Organizational form: there are two basic forms of organization: actors and regulators. Economic actors include households, work gangs and production teams, firms, joint-ventures and cartels. Economically regulative organizations are represented by the state and market authorities; the latter may be private or public entities.
Unlike in Europe, Christian democratic and social democratic theories have not played a major role in shaping welfare policy in the United States. [62] Entitlement programs in the U.S. were virtually non-existent until the administration of Franklin Delano Roosevelt and the implementation of the New Deal programs in response to the Great ...
Government spending or expenditure includes all government consumption, investment, and transfer payments. [1] [2] In national income accounting, the acquisition by governments of goods and services for current use, to directly satisfy the individual or collective needs of the community, is classed as government final consumption expenditure.
There are a number of factors that contributed to the development of social services in this period. These include: the impacts of industrialisation and urbanisation, the influence of Protestant thought regarding state responsibility for welfare, and the growing influence of trade unions and the labour movement. [8] [3]