1.___refers to the activities which are undertaken by people with the object of earning money.
2.A housewife looking after the household is an example of_____
3.All goods which are used as raw material for further production of other goods or for resale in the same year are called____
4.____sector is governed by various laws such as factories act, Minimum wages act, etc.
Answers
Answer:
1.Market Activities
2.Non-Market activity
3.Capital
4.Economic
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Concept introduction:
The value of economic activity is added to national income. Market activities and non-market activities are the two categories of economic activity.
Explanation:
Given that,
We have to find, the terms which fits into given statements.
According to the question,
1.Market activities entail paying those who participate, i.e., those who work for compensation or profit.
2.Self-consumption is produced through nonmarket activities.
3.Wealth is the possession of money or other assets by an individual or group that may be used for a variety of activities, including investing or beginning a business.
4.The financial, healthcare, retail, restaurant, educational, and administrative sectors of the economy are all included.
Final Answer:
1.Market Activities
2.Non-Market activity
3.Capital
4.Economic
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