Question

define national economy, mention 8 economic activities.

Answer 1

Explanation:

An economy is an area of the production, distribution and trade, as well as ... Economic activity is spurred by production which uses natural resources, ... Retrieved October 8, 2018.

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Answer 2

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All humans perform a variety of activities on any given day. There is work that we do every day and other activities we do for personal fulfilment and joy. So as a general rule, we can say that all the activities we do to earn a living are economic activities. All other activities are non-economic activities.

One way to identify economic activities is that they are driven by rationality and logic. The reason for performing such activities is for our own self-interest. We will gauge what returns we get in exchange for performing such activities. Non-economic activities, on the other hand, are done for emotional reasons or concern for another person. So all religious, charitable, social, patriotic, recreational activities are non-economic activities.

But it is not always easy to determine the nature of an activity. If you enjoy painting as a hobby it is a non-economic activity. However, if you sell your paintings then it becomes an economic activity. So the motive behind doing any activity is a strong indicator of its nature.