Household Production Is More Likely to Occur When

question 112

Multiple Choice

Household production is more likely to occur when

• A)it requires many specialized resources
• B)technology makes it more costly than market production
• C)tax avoidance is desirable
• D)less control over the final product is desirable
• E)the opportunity cost of household production is high

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Definitions:

Specified

Clearly stated or identified.

Implied

Something suggested or understood without being directly expressed.

Traveler's Check

A preprinted, fixed-amount check designed to allow the person signing it to make an unconditional payment to someone else as a result of having paid the issuer for this privilege.

Payable On Demand

A term indicating that a payment is to be made immediately or whenever requested by the entitled party.