households

A household refers to all the people living together in a single housing unit, such as a family, roommates, or individuals sharing a home. It represents the basic economic unit that consumes goods and services, earns income, and makes financial decisions. Households are important for understanding economic activity because their spending, saving, and investment behaviors drive demand in markets and influence overall economic health. Essentially, a household is a group of people who share a living space and manage their economic resources together.