Question

Choose the non-market activities(i) Vilas sells fish in the village market (ii) Vilas cooks food for his family (iii) Sakal works in a private firm (iv) Sakal looks after his younger brother and sister 

(i) & (ii)

(iii) & (iv)

(i) & (iii)

(ii) & (iv

​

Answer 1

Answer:

we have to choose non-market activities so it is option d ii and iv

Explanation:

Answer 2

The Non - market activities are:

ii) Vilas cooks food for his family.

iv) Sakal looks after his younger brother and sister.

What are non-market activities?

• Activities primarily meant for self are non-market activities.
• Such activities provide no profit in terms of economy to individual or market.
• The given two activities :

1. Vilas cooks food for his family.
2. Sakal looks after his younger brother and sister.

   Both these activities are done by individuals for themselves. Cooking food for the family or taking care of younger brothers and sisters are the self activities. Such activities provide no economic value to the market and rather are done for oneself and the family.

To understand the concept better let's understand what are Market values,

• Activities performed to sell goods in the market.
• These activities are meant to earn profit.
• Such activities add to the economy of the market.
• They may be performed either by an individual or a firm.

The given two examples of market activities are:

1. Vilas sells fish in the village market.
2. Sakal works in a private firm.

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