Rameshowns a small plot of land and the food grains produced on his farm are used forself-consumption, this type of activity is referred to as :
a. Market Activity
b. Non-Market Activity
c. Commercial Activity
d. Social Activity
(MCQ)
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Answer:
Correct Answer- option b (Non- Market Activity)
Explanation:
Non market activities are those activities primarily undertaken for the purpose of self-consumption. These activities don't give profit as they are for self consumption. The output of the non market activities is neither for sale in the market nor for earning profit. These activities can be for consumption and processing of primary products for one's own use. Example : A farmer cultivates primarily for himself and his family and not for earning profit.
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