Question

what do you understand by economic activities ?explain the example?​

Answer 1

Explanation:

#What are Economic Activities?

=>Economic activity is an activity of providing, making, buying or selling commodities or services by people to satisfy day-to-day needs of life. Any activity that includes manufacturing, distributing or utilising products or services.

=>Activities that involve money or the exchange of products or services are economic activities. The three types of economic activities are.

1)Business – This economic activity provides goods and services to satisfy human needs on a daily basis with the aim of earning profits.

2)Profession – It can also be defined as an occupation or a professional job that offers specialised services in return for professional charges.

3)Employment – The activity is based on a contract between the company and the employee. Here, the employee performs duties for the company, and are paid (wages or salary) in return.

Features of Economic activities

Earning motive

Utility creation

Satisfaction

Measurement

Answer 2

Economic activity is the activity of making, providing, purchasing, or selling goods or services. Any action that involves producing, distributing, or consuming products or services is an economic activity. ... Employees working in a factory and receiving wages, for example, are performing economic activities.

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