Household - Economic Theories

Economic Theories

Most economic theories assume there is only one income stream to a household; this a useful simplification for modeling, but does not necessarily reflect reality. Many households now include multiple income-earning members.

Read more about this topic:  Household

Famous quotes containing the words economic and/or theories:

    It does not follow, because our difficulties are stupendous, because there are some souls timorous enough to doubt the validity and effectiveness of our ideals and our system, that we must turn to a state controlled or state directed social or economic system in order to cure our troubles.
    Herbert Hoover (1874–1964)

    Our books of science, as they improve in accuracy, are in danger of losing the freshness and vigor and readiness to appreciate the real laws of Nature, which is a marked merit in the ofttimes false theories of the ancients.
    Henry David Thoreau (1817–1862)