Question

The nature of economic activity is divided into how many parts ?

Answer 1

Economic activity is spurred by production which uses natural resources, labor, and capital. It has changed over time due to technology (automation, accelerator of process, reduction of cost functions), innovation (new products, services, processes, expanding markets, diversification of markets, niche markets, increases revenue functions) such as, that which produces intellectual property and changes in industrial relations (for example, child labor being replaced in some parts of the world with universal access to education).

A given economy is the result of a set of processes that involves its culture, values, education, technological evolution, history, social organization, political structure and legal systems, as well as its geography, natural resource endowment, and ecology, as main factors. These factors give context, content, and set the conditions and parameters in which an economy functions. In other words, the economic domain is a social domain of human practices and transactions. It does not stand alone.

Answer 2

The ‘nature of the economic activity’ is divided into four parts:

i.  Primary Sector

ii.  Secondary Sector

iii. Tertiary Sector

iv. Quaternary Sector

Explanation:

• The economy consists of a number of activities like manufacturing, purchasing, buying and selling of goods and services and many other activities.  

• The economy is divided into four parts. The primary sector is involved with the purchasing of raw materials.  

• The ‘secondary sector’ is involved in industry and manufacturing. The tertiary sector consists of services for the primary and secondary sector and the Quaternary sector is technological or the knowledge sector.

Learn more about economic activity

An activity can be economic activity and in one situation and non economic activities in another situation. Do you agree with this and give the example of the given statements

https://brainly.in/question/4620469

Why dairy is a popular economic activity in a village?

https://brainly.in/question/4631907