Question

directly or indirectly the basis of all markets and activities

Answer 1

Directly or indirectly the basis of all markets and activities is to provide goods and services to satisfy human wants and needs.

Production is a process in which various material and immaterial inputs like plans and know-how are combined in order to make something for consumption. It is the act of creating a good or service which has value. A production process creates economic well-being. It includes all economic activities which directly or indirectly aim to satisfy human wants and needs.

Answer 2

Direct market activity is where someone produces everything for himself right from foodstuffs, the owner does not necessarily need to buy anything from the shop one produces all households for oneself.

Indirect market activities is where one specializes in a certain line of production, someone perfects on the one product but produces quality out of it.

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