Classify human activities and explain each type with examples.
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Human activities can be classified as Economic and Non-Economic Activities.
- An economic activity involves the production, distribution and consumption of all goods and services.
- A non economic activity in done with no intention of earning a profit or any money.
Examples: -
Example of economic activity
- Agriculture, fishing, mining and forestry. The production of finished products. Manufacturing of technology, fast moving consumer goods, furniture, vehicles and clothing. The delivery of intangible value commonly known as services.
Examples of non-economic activities
- a housewife looking after the household, a person engaged in social work, a person engaged in serving the handicapped persons, etc. These activities are pursued not to earn any income or profit, but to derive personal satisfaction
Know More
- Question:- What is the main aim of human activities in commerce?
- Answer:- The primary objective of these persons engaged in different works is to earn their livelihood. All human activities relating to the production of goods or services for satisfying human wants are called 'Business'.
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