Question

Define economic activity .Mention the four kind of ecnomic activitiesb. Briefly explain production as an economic actvity​

Answer 1

Answer:

Economic activity: Activities that are related to the production and consumption of goods in return for money. The main motive is to earn money.

The economic activities are:

Primary activity: these are related to the extraction of natural resources.

Secondary activity: these are related to the processing of raw materials.

Tertiary activity: these are related to providing services.

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Answer 2

Answer:

An economic activity is a process that, based on inputs, leads to the manufacture of a good or the provision of a service.

Four Types of Economic Activities

• Primary activities.
• Secondary Activities.
• Tertiary activities.
• Quaternary services

Economic activity is the activity of making, providing, purchasing, or selling goods or services. Any action that involves producing, distributing, or consuming products or services is an economic activity. ... Additionally, any activities involving money or the exchange of products or services are economic activities.

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