Adjustments acc to hh size etc spheres of economic

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Adjustments acc to hh size etc.
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Spheres of Economic Activity Core Sphere – household, family, community that organize resource management, production and consumption. work is rewarded directly by what it produces eg. Childcare, elderly care, decisions on labour supply, decision on skills and education, allocation of consumption (and savings/investment) Public-Purpose Sphere governments, NGOs, international organizations Exist for a specific purpose related to the “public good”, i.e. beyond individual and family interest. eg. Regulation, direct provision
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Spheres of Economic Activity Business Sphere – firms, looking for opportunities to buy and manage resources. Responds to demands for goods and services (as opposed to core: direct needs; public-purpose: its constitutents) Propriatorships, partnerships, cooperatives, corporations One clear goal : making profit! (most valuable outputs to produce, produce at the least possible cost, innovation ) Less Developed Country Context – Informal Sphere Outside government oversight and regulation – could be illegal, illicit but not necessarily.
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  • Fall '11
  • boun
  • Economics, Gini coefficient, Income inequality metrics, Income distribution, Essential Economic Activities

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