Explain Economic activity. Give its main purpose
Answers
Answer,
Economic activity is the activity of making, providing, purchasing, or selling goods or services. Any action that involves producing, distributing, or consuming products or services is an economic activity.
Economic activity is the activity of making, providing, purchasing, or selling goods or services. Any action that involves producing, distributing, or consuming products or services is an economic activity.Economic activities exist at all levels within a society. Additionally, any activities involving money or the exchange of products or services are economic activities.
Answer:
Economic activity are the ones which are related to the production and consumption of goods and services in return for money. The main aim of these activities is:
1. To produce those goods and services which the consumer require.
2. To earn money (cash) in return for these goods or services provided.
Example: An employee works in an office and gets salary.
Explanation:
the central purpose of economic activity is the production of goods and services to satisfy needs and wants. the key economic decisions are: what to produce, how to produce, and who is to benefit from the goods and services produced. consumers, producers and government are the main economic groups.