To spend income and consume
The household sector includes the entire population of society. It includes all of the consumption-seeking members of society--the entire population. It IS society. In effect, the economy exists to satisfy the wants and needs of the household sector.Members of the household sector also own all of the factors of production, all resources. Every resource, every worker, every factory, every acre of land, every risk-taking entrepreneur is owned by someone in the household sector. This means that the other two domestic sectors--business and government--exist to satisfy the wants and needs of the household sector.
The two sector model consists of the: Household Sector: The household sector includes everyone in an economy who consumes goods and services. Business Sector: The business sector contains the private, profit-seeking firms in the economy that combine scarce resources into the production of wants-and-needs satisfying goods and services.
In a Three-sector economy ,along with the household sector & business sector there is government sector too.Because the government can influence on the circular flow of income in 2 ways.1.It collects taxes[=T] from households & firms,and2.it makes various payments [=G] to household & business sectors.Here taxes can be taken as a lekage & government expenditure as an injection.
Businesses are sellers of products.
Household sector is a term referring to the individual persons in individual households and their correlation to society, particularly the economy.
To spend income and consume
The household sector includes the entire population of society. It includes all of the consumption-seeking members of society--the entire population. It IS society. In effect, the economy exists to satisfy the wants and needs of the household sector.Members of the household sector also own all of the factors of production, all resources. Every resource, every worker, every factory, every acre of land, every risk-taking entrepreneur is owned by someone in the household sector. This means that the other two domestic sectors--business and government--exist to satisfy the wants and needs of the household sector.
The two sector model consists of the: Household Sector: The household sector includes everyone in an economy who consumes goods and services. Business Sector: The business sector contains the private, profit-seeking firms in the economy that combine scarce resources into the production of wants-and-needs satisfying goods and services.
supermarkets
In a Three-sector economy ,along with the household sector & business sector there is government sector too.Because the government can influence on the circular flow of income in 2 ways.1.It collects taxes[=T] from households & firms,and2.it makes various payments [=G] to household & business sectors.Here taxes can be taken as a lekage & government expenditure as an injection.
Businesses are sellers of products.
bpcl
Coal and Limestone.
Three examples of household bases are: Bleach, Baking Soda and Coke. :)
Primary sector is the economic sector concerning the use of natural goods. Some examples of these goods are forestry, fishing, agriculture, and mining.
The four sector economic model is a measure of household, business, government and foriegn sectors.æ The purpose of the four sector model is to include global trade in the calculations of a nations economy.