what is economic activity
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Answer:
Economic activity is an activity of providing, making, buying or selling commodities or services by people to satisfy day-to-day needs of life. ... Activities that involve money or the exchange of products or services are economic activities. The three types of economic activities are.
Business – This economic activity provides goods and services to satisfy human needs on a daily basis with the aim of earning profits.
Profession – It can also be defined as an occupation or a professional job that offers specialised services in return for professional charges.
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.
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Features of Economic activities
Earning motive
Utility creation
Satisfaction
Measurement
Additional link: Organisation Of Economic Activities
What are Non-Economic Activities?
Non-economic activity is an activity performed with the purpose of rendering services to others without any consideration to financial gain. Those activities which are initiated for personal content or to meet human sentiments are non-economic activities.
Some common examples of non-economic activities are.
Free -Time Activities – Its only aims at acquiring pleasure in idle time. For instance, painting and singing, etc.
Family-Commitment Activities – This activity is dedicated and inspired by family. For example, a teacher offering education to her/his own child at home and a doctor consulting his family, etc.
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