Heya!!!
What is economic activity??
Answers
Tʜᴇ ᴘʀᴏᴅᴜᴄᴛɪᴏɴ, ᴅɪsᴛʀɪʙᴜᴛɪᴏɴ, ᴀɴᴅ ᴄᴏɴsᴜᴍᴘᴛɪᴏɴ ᴏғ ᴄᴏᴍᴍᴏᴅɪᴛɪᴇs ɪs ᴇᴄᴏɴᴏᴍɪᴄ ᴀᴄᴛɪᴠɪᴛɪᴇs. Eɢ: ɢᴏᴏᴅs ᴀɴᴅ sᴇʀᴠɪᴄᴇs ɪs ᴀɴ ᴇxᴀᴍᴘʟᴇ ᴏғ ᴘʀɪᴍᴀʀʏ ᴇᴄᴏɴᴏᴍɪᴄ ᴀᴄᴛɪᴠɪᴛʏ. Iᴛ ɪs ᴛʜᴇ ᴀᴄᴛɪᴏɴ ᴛʜᴀᴛ ɪɴᴠᴏʟᴠᴇs ᴛʜᴇ ᴘʀᴏᴅᴜᴄᴛɪᴏɴ, ᴅɪsᴛʀɪʙᴜᴛɪᴏɴ, ᴄᴏɴsᴜᴍᴘᴛɪᴏɴ ᴏғ ɢᴏᴏᴅs ᴀɴᴅ sᴇʀᴠɪᴄᴇs ɪɴ ᴏᴜʀ sᴏᴄɪᴇᴛʏ.
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. For instance, running a small business is a great example of economic
Employees working in a factory and receiving wages, for example, are performing economic activities. Their employers are also economically active because they pay the workers and make and sell goods.
The term contrasts with non-economic activities. When somebody goes to a temple to pray or meditate, for example, they are performing a non-economic activity. So is helping a friend study if you receive no money for that help.