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ICSE Class 9 Answered

What is the difference between a consumer and a household?
Asked by chaitra_ganesh | 14 Mar, 2019, 12:20: PM
answered-by-expert Expert Answer

A Consumer, is an individual who consumes various goods and services. Their objective to maximise their satisfaction from consuming these goods and services.

A Household, refers to a group of people living together and they take economic decisions jointly. Their objective is to maximise their satisfaction with their combined limited income.

 
Answered by Christina | 14 Mar, 2019, 12:36: PM
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