Question

explain economic activity

Answer 1

a:. Actions that involve the production,distribution and consumption ofgoods and services at all levels within a society. Gross domestic product or GDP is one way of assessing economic activity, and the degree ofcurrent economic activity and forecasts for its future level can significantly impact business activityand profits, as well as inflation and interest rates.

USAGE EXAMPLES

The economic activity in the region was being analyzed by our team and we had concluded it would be great to enter the market.

There was some new economic activity going on in the area and it made me excited at the thought of new activities and opportunities.

You should try and follow all of the economic activity so that you know how it might affect your business.

Answer 2

Economic activities are the activities which contribute to the flow of goods and services in an economy.

Primary sector, secondary sector and tertiary sector are the different economic sectors

1. Primary sector- It includes those activities which are closely related to man's natural environment. This sector forms the base for all other sectors.

For e.g. gathering, hunting, fishing etc.

Secondary sector- It includes the occupations which produce finished goods by using the products of primary sector as raw materials. It is also known as manufacturing sector. For e.g manufacturing of cloth from cotton, sugar from sugarcane etc.

Tertiary sector- It helps in the development of primary and secondary sector. This sector, by themselves, do not produce a good, but they are a support for the production process.So it is also known as support sector.For e.g. transport, communication, etc.