Question

Describe the activities which are inspired mainly by economic consideration.

Answer 1

Answer:

Activities which are inspired mainly by economic consideration are classified as:  (i)Manufacturing: It is the production of merchandise for use and sale.Manufactured goods can used by final consumers. Final consumers can be households or firms.  (ii)Service: It is intangible as it can’t be stored and does not result in ownership. It is consumed at the point of sale. Example— banking, communication, transport, etc.  (iii)Trading: It is an activity of buying, selling or exchanging goods or services. Money is made by buying or selling.

Explanation:

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Answer 2

Answer:

(i) Manufacturing : It is the producing of merchandise for use and sale.Manufactured goods can use by final consumer.Final conusmer can be household or firms

(ii) Service:It is intangible as it can't be stored and does not result in ownership.It is conused at the point of sale

Explanation:.Example-banking,community,transport etc.

(iii) Treading:It is an activity of buying selling and exchanging goods our services. Money is made by buying or selling.