Question

Differentiate market activities from
non-market activities. Under which activity
would you classify government service?​

Answer 1

Answer:

MARKET ACTIVITY

•market activity is for selling

•which is produced in large quantity

NON- MARKET

•it is for self consumption

•produced in small quantity

____________________________

market activity comes under market activity

Answer 2

⚘ Question ᭄

Differentiate market activities from

non-market activities. Under which activity

would you classify government service?

⚘ Answer ᭄

Any activity which add value to National Income is called economic activity.

↬Tʜᴇ ᴛᴡᴏ ᴛʏᴘᴇs ᴏғ ᴇᴄᴏɴᴏᴍɪᴄ ᴀᴄᴛɪᴠɪᴛɪᴇs ᴀʀᴇ -

➺ Market Activities

➣ That part of the activity which produces such goods or services that are sold and purchased in the market, and the provider of the service gets paid for it.

➣ Market activities involve remuneration to the person who performs an activity for pay or profit.

➣ These are socially useful activities which includes the production and consumption of goods.

➴ Example :- Workers in industries of factories.

➺ Non- market Activities

➣ The performer of this type of economic activity produces primarily for self – consumption.

➣ These economic activities involve production for self- consumption.

➣ They are not done for pay or profit.

➴ Example :- Subsistence farming.