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Family Economy
The term Family Economy can be used to describe the family as an economic unit. The early stages of development in many economies are characterized by family based production.Parente, S.L., Rogerson, R. & Wright, R., (2000). Homework in Development Economics: Household Production and the Wealth of Nations. Journal of Political Economy, 108, 680-687. In the early, pre-industrial stage, technology was limited and unchanging. Most economic activity took place within the household, and production and distribution were organized by custom and tradition. High mortality rates and low productivity meant that on the farms and in the towns life was short and living conditions were harsh – an existence which was accepted fatalistically. In this society the family played a central role, since economic and social status was defined by birth, family ties, and local custom. Most importantly, the family was a productive unit, and physical strength – typically a male attribute – ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economic
An economy is an area of the production, distribution and trade, as well as consumption of goods and services. In general, it is defined as a social domain that emphasize the practices, discourses, and material expressions associated with the production, use, and management of scarce resources'. A given economy is a set of processes that involves its culture, values, education, technological evolution, history, social organization, political structure, legal systems, and natural resources as main factors. These factors give context, content, and set the conditions and parameters in which an economy functions. In other words, the economic domain is a social domain of interrelated human practices and transactions that does not stand alone. Economic agents can be individuals, businesses, organizations, or governments. Economic transactions occur when two groups or parties agree to the value or price of the transacted good or service, commonly expressed in a certain currency. Ho ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Family
Family (from la, familia) is a group of people related either by consanguinity (by recognized birth) or affinity (by marriage or other relationship). The purpose of the family is to maintain the well-being of its members and of society. Ideally, families offer predictability, structure, and safety as members mature and learn to participate in the community. Historically, most human societies use family as the primary locus of attachment, nurturance, and socialization. Anthropologists classify most family organizations as matrifocal (a mother and her children), patrifocal (a father and his children), conjugal (a wife, her husband, and children, also called the nuclear family), avuncular (a man, his sister, and her children), or extended (in addition to parents and children, may include grandparents, aunts, uncles, or cousins). The field of genealogy aims to trace family lineages through history. The family is also an important economic unit studied in family economics. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Consumption (economics)
Consumption is the act of using resources to satisfy current needs and wants. It is seen in contrast to investing, which is spending for acquisition of ''future'' income. Consumption is a major concept in economics and is also studied in many other social sciences. Different schools of economists define consumption differently. According to mainstream economists, only the final purchase of newly produced goods and services by individuals for immediate use constitutes consumption, while other types of expenditure — in particular, fixed investment, intermediate consumption, and government spending — are placed in separate categories (see consumer choice). Other economists define consumption much more broadly, as the aggregate of all economic activity that does not entail the design, production and marketing of goods and services (e.g. the selection, adoption, use, disposal and recycling of goods and services). Economists are particularly interested in the relationship bet ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Industrialization
Industrialisation ( alternatively spelled industrialization) is the period of social and economic change that transforms a human group from an agrarian society into an industrial society. This involves an extensive re-organisation of an economy for the purpose of manufacturing. Historically industrialization is associated with increase of polluting industries heavily dependent on fossil fuels. With the increasing focus on sustainable development and green industrial policy practices, industrialization increasingly includes technological leapfrogging, with direct investment in more advanced, cleaner technologies. The reorganization of the economy has many unintended consequences both economically and socially. As industrial workers' incomes rise, markets for consumer goods and services of all kinds tend to expand and provide a further stimulus to industrial investment and economic growth. Moreover, family structures tend to shift as extended families tend to no longer liv ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Family Economics
Family economics applies economic concepts such as production, division of labor, distribution, and decision making to the family. It is used to explain outcomes unique to family—such as marriage, the decision to have children, fertility, polygamy, time devoted to domestic production, and dowry payments using economic analysis. The family, although recognized as fundamental from Adam Smith onward, received little systematic treatment in economics before the 1960s. Important exceptions are Thomas Robert Malthus' model of population growthThomas Robert Malthus, 1798. ''An Essay on the Principle of Population''. Full text on WikiSource. and Friedrich Engels'Friedrich Engels, 1981, The Origin of the Family, Private Property and State, International Publishers, pp 94-146 pioneering work on the structure of family, the latter being often mentioned in Marxist and feminist economics. Since the 1960s, family economics has developed within mainstream economics, propelled by the ne ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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