Household production still exists because it often requires fewer specialized resources than market production does.

Question

Quizplus · Accepted Answer

Household production, such as cooking meals or cleaning the house, can often be accomplished with resources already available in the home, such as a stove or cleaning supplies. In contrast, market production may require specialized resources or equipment that the household does not have access to, such as machinery or specialized software. Therefore, household production may be more cost-effective and efficient for certain goods and services.

Household Production Still Exists Because It Often Requires Fewer Specialized