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Home economics, also called domestic science or family and consumer sciences (often shortened to FCS or FACS ), [ 1] is a subject concerning human development, personal and family finances, consumer issues, housing and interior design, nutrition and food preparation, as well as textiles and apparel. [ 2] Much less common today, it was, and is ...
Household economics analyses all the decisions made by a household. These analyses are both at the microeconomic and macroeconomic level. This field analyses the structures of households, the behavior of family members, and their broader influence on society, including: household consumption, division of labour within the household, allocation of time to household production, marriage, divorce ...
Service (economics) A restaurant waiter is an example of a service-related occupation. A service is an act or use for which a consumer, company, or government is willing to pay. [ 1] Examples include work done by barbers, doctors, lawyers, mechanics, banks, insurance companies, and so on.
In economics, a public good (also referred to as a social good or collective good) [1] is a good that is both non-excludable and non-rivalrous. Use by one person neither prevents access by other people, nor does it reduce availability to others. [1] Therefore, the good can be used simultaneously by more than one person. [2]
Economics. Consumption is the act of using resources to satisfy current needs and wants. [ 1] It is seen in contrast to investing, which is spending for acquisition of future income. [ 2] Consumption is a major concept in economics and is also studied in many other social sciences . Different schools of economists define consumption differently.
Outsourcing. Outsourcing is a business practice in which companies use external providers to carry out business processes that would otherwise be handled internally, [ 1][ 2] or in-house. [ 3] Outsourcing sometimes involves transferring employees and assets from one firm to another. The term outsourcing, which came from the phrase outside ...
Here are three reasons why home economics has declined in U.S. schools.
Economics is the study of the production, distribution, and consumption of goods and services. Managerial economics involves the use of economic theories and principles to make decisions regarding the allocation of scarce resources. [ 2] It guides managers in making decisions relating to the company's customers, competitors, suppliers, and ...