Council for Economic Education Glossary

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H

Heterogeneous Products
Products (goods or services) that are differentiated by real or imagined differences in quality or other features, such as color, taste, styling, warranties or complimentary services provided to those who buy the products.

Homogeneous Products
Products (goods or services) that are identical, with no differentiating features.

Horizontal Merger
A combination formed when two businesses producing the same goods or services merge.

Households
Individuals and family units that buy goods and services (as consumers) and sell or rent productive resources (as resource owners).

Housing
Accommodation in houses, apartments, etc.

Human Capital
The health, education, experience, training, skills and values of people. Also known as human resources.

Human Capital Investment
Investment of time, effort and resources in education and training--to increase one's own knowledge, skills, health, etc., or to develop those assets in others.

Human Resources
The health, education, experience, training, skills and values of people. Also known as human capital.

Hyperinflation
A very rapid rise in the overall price level.