Question

What do you mean by economic activity explain its types?​

Answer 1

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.

Answer 2

Answer:

Economic activity: Activities that are related to the production and consumption of goods in return for money. The main motive is to earn money.

The economic activities are:

Primary activity: these are related to the extraction of natural resources.

Secondary activity: these are related to the processing of raw materials.

Tertiary activity: these are related to providing services.

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