Question

what are the two types of economic activities? State two characteristics of each.
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Answer 1

Answer: Economic activities are those activities which add value to the national income. It has two types: market and non-market activities.

Market activities; these activities are performed for pay or profit

Non-market activities; these activities are performed for self consumption.

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Answer 2

Answer:

The activities of making ( producing) purchasing or selling goods or services in referred as economic activities.

There are three basic types of sector : It includes the activities related to agriculture and allied activities