Question

Assertion (A): Market activities are performed for pay or profit. Reason (R): Non market activities are performed for self consumption. *
1 point
(a) Both A and R are true and R is the correct explanation of A.
(b) Both A and R are true and R is the not correct explanation of A.
(c) A is correct but R is wrong.
(d) A is wrong but R is correct.​

Answer 1

Explanation:

a) both A and R are ture and R is the correct explanation of A

Answer 2

Answer:

(a) Both A and R are true and R is the correct explanation of A.

Explanation:

• what includes Market Activities - Market activities are those that are conducted primarily for the purpose of selling in the market and include remuneration or profit. Simply put, the main reason for engaging in such activities is to profit from the output sold in the market. It includes the manufacture of goods and the provision of services, including public services. A fruit vendor might sell fruits, a grocer might sell groceries, a shoemaker might sell shoes, a general merchant might sell consumer durables, and so on.
• what includes non- market activities- Nonmarket activities are those initiated primarily with the goal of self-consumption. These activities are not profitable because they are for personal consumption. Nonmarket activities produce nothing that can be sold in the market or profited from. These activities can include consuming and processing primary products for personal use. A farmer, for example, cultivates primarily for himself and his family, rather than for profit.
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