Question

what is meant by economic activities, describe the three type of economic activity and give one example of each​

Answer 1

Answer:

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: Activitieswhich are concerned with the processing of natural resources are called secondary activitiesThe production, distribution, and consumption of commodities is economic activities. Eg: goods andservices is an example of primary economic activity. It is the action that involves the production, distribution, consumption of goods and services in our society

Answer 2

All activities which are paid or remunerated are called economic activities. These activities are concerned with producing goods & services which satisfy human wants.

The three type of economic activities are:

production - creation of & addition to utilities

Consumption - demand of final goods & services for using & deriving utility out of them for satisfaction of wants

Investment - cretion of new equipments & machines to produce goods & sevices