Question

An act of earning livelihood by doing
some productive work is known as
(a)Market economic activity
(b) Non-market economic activity
(c) Non-economic activity
(d) Either(a) or (b)​

Answer 1

Answer:

ans is market economic activity

Answer 2

The correct answer is 'option a) Market economic activity.'

• Market economic activity refers to all activities concerning the production and consumption of various goods.
• Market economic activities are carried out to earn or make a profit.
• Therefore it fits the definition of 'an act of earning livelihood by doing some productive work.'
• Examples of market economic activities are a man running a shop, or a person working in an office.