Question

Identify the correct statement/s about the economic activities

1. These activities add value to the national income
2. It has two parts — market activities and non-market activities
3. These activities result in the production of goods and services
4. Only educated people perform economic activities.

Answer 1

Answer:

The four essential economic activities are resource management, the production of goods and services, the distribution of goods and services, and the consumption of goods and services. As you work through this book, you will learn in detail about how economists analyze each of these areas of activity