In Becker's model of time allocation,the difference between "goods" and "commodities" is that commodities are produced:
A)in markets whereas goods are produced in households
B)only with housework
C)by combining goods with time
D)in the market,whereas goods are produced in the home

Question

Quizplus · Accepted Answer

Commodities in Becker's model are produced by combining goods (which can be bought in the market) with time, reflecting the idea that value is added to goods through the time spent using or consuming them.

In Becker's Model of Time Allocation,the Difference Between "Goods" and "Commodities