Question

explain different sectors of economy based on economic activities performed by the people

Answer 1

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.

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.

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