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What factors does a household consider when deciding whether to produce a good or service at home or buy it in the marketplace?
Wiki User
∙ 9y ago
A household considers the cost of buying the good or service, and the cost of producing it at home. It also considers the amount of time needed to produce it at home.
Wiki User
∙ 9y ago
Households consider factors such as the cost of production at home (including time, resources, and expertise), the cost of buying the good or service in the marketplace, the quality and convenience of both options, and personal preferences or skills that may influence the decision.
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What factors does a householder consider when deciding whether to produce a good or service at home or buy it in the marketplace?
A household considers the cost of buying the good or service, and the cost of producing it at home. It also considers the amount of time needed to produce it at home.
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