Question

Explain different economic activities with their relative importance in economy.​

Answer 1

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Economic activity is an activity of providing, making, buying or selling commodities or services by people to satisfy day-to-day needs of life. Any activity that includes manufacturing, distributing or utilising products or services. In fact, whatever that involves money or the exchange of products or services are economic activities.

Non-economic activity is an activity performed with the purpose of rendering services to others without any consideration to financial gain. Those activities which are initiated for personal content or to meet human sentiments are non-economic activities.

Answer 2

Answer:

Economic activity is an activity of providing, making, buying or selling commodities or services by people to satisfy day-to-day needs of life. Any activity that includes manufacturing, distributing or utilising products or services. In fact, whatever that involves money or the exchange of products or services are economic activities.

Step-by-step explanation:

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