Discuss why the number of children that a family has

Assignment Help Macroeconomics
Reference no: EM1339012

Discuss why the number of children that a family has may dif

Discuss why the number of children that a family has may differ between an Industrial Society and a Third World Agrarian Society.

The Supply and Demand for Children
In Chapter 1, I distinguished between an economic force and a market force. Economic forces are operative in all aspects of our lives; market forces are economic forces that are allowed to be expressed through a market. My examples in this chapter are of market forces - of goods sold n a market - but supply and demand also can be used to analyze situations in which economic, but not market, forces operate. An economist who is adept at this is Gary Becker of the University of Chicago. He has applied supply and demand analysis to a wide range of issues, even the supply and demand for children.
Becker doesn't argue that children should be bought and sold. But he does argue that economic considerations play a large role in people's decisions on how many children to have. In farming communities, children can be productive early in life; by age six or seven, they can work on a farm. In an advanced industrial community, children provide pleasure but generally don't contribute productively to family income. Even getting them to help around the house can be difficult.
Becker argues that since the price of having children is lower for a farming society than for an industrial society, farming societies will have more children per family. Quantity of children demanded will be larger. And that's what we find. Developing countries that rely primarily on farming often have three, four, or more children per family. Industrial societies average fewer than two children per family.

 

Reference no: EM1339012

Questions Cloud

Explain liability discussion : Explain Liability Discussion and use the card only for a car rental and for hotel lodging
Assume you were appointed economic adviser : Assume you were appointed economic adviser to a less-developed nation in Africa. The nation seeks to encourage capital formation and wants to increase the rate of saving.
Calculate portfolio var : Calculate portfolio VAR for (a)
Tax consequences from sale of the asset : The tax consequences from the sale of the asset will be?
Discuss why the number of children that a family has : Discuss why the number of children that a family has may differ between an Industrial Society and a Third World Agrarian Society.
Define how does a deficiency of thiamine account : The disease beriberi, which results from a dietary deficiency of vitamin B1 (Thiamine) is characterized by neurological and cardiac symptoms, as well as increased levels of pyruvate and alpha- ketoglutarate in the blood. define How does a deficien..
Explain fiduciary duty through failure to disclose : Explain Fiduciary Duty through Failure to Disclose and Plaintiffs appealed Did H&R Block violate a fiduciary duty through its failure to disclose its relationship with the banks involved
Humanism and slavery existing simultaneously : Why did slavery exist during the Renaissance when emphasis was being placed on the worth of humans and their unique qualities?
Differences among the corporations : Discuss  the differences among the various types of corporations.

Reviews

Write a Review

Macroeconomics Questions & Answers

  Macro economy similar terms are known as aggregate demand

Explain when we look at the macro economy the similar terms are known as Aggregate Demand

  Compute the price-cost margin for every firm

Compute the price-cost margin for every firm and indicate which has more pricing power and why.

  Costs and diminishing marginal returns

Use the following Information on a hypothetical short-run production function to answer questions a-c. Calculate the marginal and average variable product of each unit of labour input.

  Efficient allocation of resources in competitive market

Explain why competitive markets normally lead profit maximizing firms to make choices about resource use that lead to an "efficient" allocation of resources to the market?

  Elucidate how the market for corn would be affected

Elucidate how the market for corn would be affected if ethanol, a corn derivative was used to fuel cars in the United States.

  Elucidate the interpretation of the coefficient

Elucidate the interpretation of the coefficient b. Do the demand functions satisfy the relevant homogeneity conditions.

  The ending benifit if any should be realized in cad

The ending benifit if any should be realized in CAD. How can he complete interest arbitrage. What will be his profit.

  Fiscal policy also laws that govern businesses

Explain how have these people changed monetary strategy, fiscal policy also laws that govern businesses since the collapse of the economy.

  Illustrate what policies have been proposed or implemented

Illustrate what policies have been proposed or implemented to address the problem your describe.

  How income may change savings behavior

How income may change savings behavior

  Compute the pv using the equivalent real cash flow

Compute the PV of Mr. Deco's payment using the equivalent real cash flow and real discount rate.

  Elucidate trends that proctor and gamble will face

describe market trends that Proctor and Gamble will face. Elucidate your conclusions. address how each of the following will change or will not change, and why.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd