What are economic activities? Explain with suitable examples?
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Economic activities are performed for the purpose of making money, gaining wealth, and creating and producing items that can be offered to the public for sale. Restaurants, large retailers and even small businesses engage in economic activities every day. The outcome of economic activities is measured monetarily.
By contrast, non-economic activities are those performed without money in mind. Maybe you volunteered at a local animal shelter or worked to prepare care packages for the military. Non-economic activities are conducted voluntarily, typically out of a sense of affection, sympathy or similar emotion. It could be related to a social cause, a religious preference, a recreational choice or a charitable goal. In non-economic activities, money is not a determining factor and cannot be used to measure the outcome; rather, that is measured in satisfaction, fulfillment and happiness.
By contrast, non-economic activities are those performed without money in mind. Maybe you volunteered at a local animal shelter or worked to prepare care packages for the military. Non-economic activities are conducted voluntarily, typically out of a sense of affection, sympathy or similar emotion. It could be related to a social cause, a religious preference, a recreational choice or a charitable goal. In non-economic activities, money is not a determining factor and cannot be used to measure the outcome; rather, that is measured in satisfaction, fulfillment and happiness.
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Actions that involve the production, distribution and consumption of goods and services at all levels within a society. Gross domestic product or GDP is one way of assessing economic activity, and the degree of current economic activity and forecasts for its future level can significantly impact business activity and profits, as well as inflation and interestrates.
USAGE EXAMPLES
The economic activity in the region was being analyzed by our team and we had concluded it would be great to enter the market.
There was some new economic activity going on in the area and it made me excited at the thought of new activities and opportunities.
USAGE EXAMPLES
The economic activity in the region was being analyzed by our team and we had concluded it would be great to enter the market.
There was some new economic activity going on in the area and it made me excited at the thought of new activities and opportunities.
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