Identify a Correct Statement About Household Production

question 44

Multiple Choice

Identify a correct statement about household production.

• A) Household production is more likely to occur when it requires many specialized resources.
• B) Household production is more likely to occur when technology makes it more costly than market production.
• C) Household production is more likely to occur when tax avoidance is undesirable.
• D) Household production is more likely to occur when less control over the final product is desirable.
• E) Household production is more likely to occur when the opportunity cost of household work is relatively small.

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Definitions:

Proactive

Taking initiative by acting in advance of future situations rather than just reacting, thereby controlling circumstances by causing things to happen.

Reactive

Describes a response to events or situations rather than initiating or influencing them.

Customer Needs

The wants or requirements that consumers express to have satisfied by purchasing goods or services.

Black Box Model

A concept in consumer behavior that treats the consumer's mind as a "black box," focusing on the inputs and outputs of the buying process without attempting to interpret what happens inside the mind.