H) Answer in one sentence.
1) What is an Economic Activity?
2 What is Non-economic Activity?
3) What do you mean by Wholesale Trade?
4) What is the meaning of Retail Trade?
5) What do you mean by Import Trade?
6) What is the meaning of Export Trade?
Answers
Answer:
1) An economic activity is a process that, based on inputs, leads to the manufacture of a good or the provision of a service
2) Non-economic activity is an activity performed with the purpose of rendering services to others without any consideration to financial gain.
3) Wholesale trade consists of purchasing and selling goods, generally to retailers, professional (industrial or commercial) users or authorities, or to other wholesalers or intermediaries, regardless of the quantities sold.
4) Retail trade consists of selling merchandise in the state that it is purchased (or after minor transformations),
5) An import is a good or service bought in one country that was produced in another. Imports and exports are the components of international trade.
6) Export refers to a product or service produced in one country but sold to a buyer abroad.