The household's "the basic residential unit in which economic production, consumption, inheritance, child rearing, and shelter are organized and carried out"; [thehousehold] "may or may not be synonomous with family". The household's the basic unit of analysis in many social, microeconomic and government models. The term refers to all individuals who live in the same dwelling. In economics, a household's a person or a group of people living in the same residence. Most economic models don't add… (More on Households)