1.The opportunity cost method and
2.Replacement cost method.
under first method what is the opportunity cost of housewife's time in alternative works are taken ,suppose a female lawyer earned Rs.100 per hour and she decides to forgo an hour of work to prepare a dishes, the cost of that task is Rs.100. Thus the value of one hour of housewife will be Rs.100.
Under the 2nd method how much would cost to replace the services of a housewife? like wages of different services that could get from wife and make the average and this will be the service value of housewife.
The above concept is by Douglas W.Allen Professior of economics, Simon Fraser University.
But in the light of Indian ethic, the contribution of Housewife is an unlimited one and can not be valued in terms of money nor in terms of notional value.
She is suppose the Mothers(Janani) of the Family.
Believe in the existence of God the super power.