Question

State with valid reason whether the given statement is true or false:
Economic activity means production activity.​

Answer 1

Answer:

We all have heard the saying “All work and no play makes Jack a dull boy”. But how do we categorize what is work and what is play? In economics, we categorize all human activities into two broad categories – economic activities and non-economic activities. Let us take a look at the meaning and some examples of economic activities