Question

define economic activity how is consumption called an economic activity ?​

Answer 1

Answer:

єcσnσmíc αctívítч ís αn αctívítч σf prσvídíng, mαkíng, вuчíng σr sєllíng cσmmσdítíєs σr sєrvícєs вч pєσplє tσ sαtísfч dαч-tσ-dαч nєєds σf lífє. αnч αctívítч thαt íncludєs mαnufαcturíng, dístríвutíng σr utílísíng prσducts σr sєrvícєs

Answer 2

Answer:

Economic activity: In layman's language, an activity which relates to monetary terms is termed as economic activity.

Now,in economic terms

Activities which are under taken by people with the object of earning money are known as economic activities.

e.g.,

production of goods in factory

distribution of goods by a wholesaler or retailer.

The aswer for your second question:

Consumption is the demand side of the market.

It is what generates the production and the supply of goods and services.

The consumption of goods promotes competition and introduction of better products in the market.

So consumption encourages production activities, so it is in itself an economic activity.

Hope you satisfy with the answer!

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