Question

Identify the economic concept for following statement

vasant sheth provides coal from his shop to farmers in exchange for foodgrains

Answer 1

Answer:

Vasant sheth provides coal from his shop to farmers in exchange for foodgrains –Economic activity:

• The purpose of economic operations is to earn cash, livelihood etc.
• So you can write teacher teaching in school, shopkeeper selling products, etc.  
• It is what makes products and services produced and delivered. Goods consumption encourages competition and market introduction of better products.
• Consumption therefore promotes the operations of manufacturing, so it is an economic activity in itself.
• Non-economic operations are performed so you can also write Mother cooking food for her family, teacher teaching her own child, etc.
• Human activities are non-economic actions that are conducted for private fulfilment or to fulfil human feelings.

Answer 2

Answer:

No up answer is wrong correct answer is barter system.