Question

Define the concept of economic activity with a suitable example.

Answer 1

economic activity is a type of activity in which people earn income and this is included in the national income of the country.

eg: Agriculture

Answer 2

Actions that involve the production, distribution and consumption of goods and services at all levels within a society. Gross domestic product or GDP is one way of assessing economic activity
Economic activities are performed for the purpose of making money, gaining wealth, and creating and producing items that can be offered to the public for sale. Restaurants, large retailers and even small businesses engage in economic activities every day. The outcome of economic activities is measured monetarily.