MANAGEMENT

Detailed explanation-1: -Cooking, cleaning, caring for children, shopping, gardening and doing odd jobs around the house are examples of household production. The travel time related to these tasks is counted, too.

Detailed explanation-2: -Household Production Satellite Account Things like cooking, cleaning, watching the kids, and so forth? Such unpaid work is not included in BEA’s calculation of U.S. gross domestic product.

Detailed explanation-3: -The household economy describes the collective economic activities of households. Often the household economy is called the household sector as distinct from the business, government and foreign sectors. However the household sector is large enough to deserve the term household economy.

Detailed explanation-4: -Household income is the combined net income of all members of a particular household above a set age limit. It is not necessary for individuals in question to be related in any way to be considered members of the same household.