Family economy
The term Family Economy can be used to describe the family as an economic unit. The early stages of development in many economies are characterized by family based production. "In the early, pre-industrial stage, technology was limited and unchanging. Most economic activity took place within the household, and production and distribution were organized by custom and tradition. High mortality rates and low productivity meant that on the farms and in the towns life was short and living conditions were harsh – an existence which was accepted fatalistically. In this society the family played a central role, since economic and social status was defined by birth, family ties, and local custom. Most importantly, the family was a productive unit, and physical strength – typically a male attribute – was an essential element in survival." The family economic unit has always been dependent on specialized labor done by family members. The family was a multi-generational producer with capital and land provided by older generations and labor provided by younger generations. Goods were produced not only for home consumption but to sell and trade in the market as well. Family production was not only limited to agricultural products but they also produced manufacturing