Question

‘The number of members in the family, along with the earning members, affects the family budget’. This statement is related to the factor ______.

Options

• Availability of money

• Socio-Economic Status

• Composition of the family

• Family Life Cycle

Answer 1

‘The number of members in the family, along with the earning members, affects the family budget’. This statement is related to the factor composition of the family.

Explanation:

Family composition refers to the total number of people in a household, their ages, and how many of them actually earn an income. A larger family requires more money for basic needs (food, clothing, housing). Conversely, having more earning members increases the total pool of money available, which directly shifts how the budget is planned.