Economic of work and family or also referred as the family economics is a science which is applied with the most basic of the concepts which are present in the economics on the daily basis lives of the individuals. Production, division of labor, decision making, distribution and study of the family nature are all part of the family economics. Economic analysis is a healthy thing in the usage in the funds, making up budgets for the company and marking up the performance. But the economic study of the family, brings out the quantitative as well as the qualitative qualities of the persons also. The outcomes which are very necessary to the family are brought up by the economic analysis of the work and family. These outcomes are mainly the livelihood of a family and how it sustains generation to generations with marriage, children decision making, polygamy, fertility, the time devoted specially to the production process domestically and also dowry payments. Many economists came with the theory that family is a very fundamental part of life, and to make up that efficient in the process is the best way to make up person’s mind. Without a family, a person will be distraught and lonely which will affect his or her performance and eventually the company in which they are working. The economy will be unstable due to this. Thus government should be stepped up in making sure the family economics is give special and proper recommendation also. The standard themes on which the family economics is established are:
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It is a very prominent part of the family economics. The family members residing in a particular region mainly the part of the countryside and urbanized which depend on the livelihood of its profession. These are usually the primary and secondary sectors of industry. They divide the overall time which is between the work which is to be done inside the factory or the household and the time to be used in the market work. The whole family works as a unit and decides on who the members of the family must do the appropriate task. The tasks are divided as per the knowing and study of the work subject of the family member. Specialization is taken mainly in the consideration. The household work is a very vast sort of work and hence is categorized into different sections of work and in terms of whether the whole family reaps equal benefits from it or only some members only. Laundry, cleaning and also the care work activities are termed in with the household activities which benefits the whole family work process and are that are done specifically for another member of the household, usually because that member is not able to do that work for himself or herself. Elder care and child care are two of the basic forms and types of the care work. The legitimate household work which is quite benefiting the part members of the family is the cooking and the laundry business. According to the theories of the neoclassical, the actual labor division is between the main household work and market work which is directly related to each other and act as and utility function. It is present with the individuals of the family. It is of greater significance when the family takes up a greater preference for the products which can be bought easily from the market and can be allocated more easily for the market work and buy some products from the market. In some case, they may prefer for the work of more household job and the consumption of the goods which are produced for the household.
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