Family economics

Family economics applies economic concepts such as production, division of labor, distribution, and decision making to the family. It is used to explain outcomes unique to family—such as marriage, the decision to have children, fertility, time devoted to domestic production, and dowry payments using economic analysis. The family, although recognized as fundamental from Adam Smith onward, received little systematic treatment in economics before the 1960s.

Extends: [Family economics](https://wikipedia.org.ai/Family economics), [Demographic economics](https://wikipedia.org.ai/Demographic economics), Family