What is meant by economic activities? Describe the three types of economic activities and give one example of each.
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The production,distribution and consumption of commodities.In Gonzales v Raich a majority of the supreme court of the United States, under the penmanship of Justice Stevens,wrote that economics and economic activity means.".....the production distribution and consumption of commodities.
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The three types of economic activities are described below: (i)Primary Activities: Primary activities include all those connected with extraction and production of natural resources. ... (ii)Secondary Activities: Activities which are concerned with the processing of natural resources are called secondary activities.
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