Asked by Pasha Harmidy on May 10, 2024
Verified
All households have ultimately limited incomes.
Limited Incomes
Economic condition where individuals or households have restricted earnings, impacting their spending capabilities and living standards.
Households
The individuals or group of people living together in the same dwelling and functioning as a single decision-making economic unit, typically sharing income and expenses.
- Differentiate between families and businesses in the context of economics.
Verified Answer
KK
Kenzie KimesMay 11, 2024
Final Answer :
True
Explanation :
All households have a finite amount of income, as there is a limit to the amount of money they can earn, save, or borrow at any given time.
Learning Objectives
- Differentiate between families and businesses in the context of economics.