Question

the basic of every economic activity is:​

Answer 1

Production, consumption and capital formation are called the basic economic activities of an economy. Scarce resources are used in the production of goods and services with the objective of satisfying our needs and wants. ... Factors are paid rent, wages, interest and profits for their productive services.

Answer 2

Answer:

Production, consumption and capital formation are called the basic economic activities of an economy. Scarce resources are used in the production of goods and services with the objective of satisfying our needs and wants. ... Factors are paid rent, wages, interest and profits for their productive services.

Explanation:

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