household

A household is a group of people living together in the same residence, sharing resources and often making joint decisions. It can include a family, roommates, or anyone who shares a dwelling and helps sustain its daily functions. Economically, households are the basic units that consume goods and services, earn income, and contribute to the economy. They may own or rent property, and their collective activities influence market demand. In summary, a household is a social and economic unit composed of individuals sharing a living space and resources.