what is meant by economic activity
Answers
Answered by
8
The primary aim of the economic activity is the production of goods and services with a view to make them available to consumer.
Answered by
7
HERE IS YOUR ANSWER :- Economic activities are related to production, distribution, exchange and consumption of goods and services.
The primary aim of the economic activity is the production of goods and services with a view to make them available to consumer.

"Human activities which are performed in exchange for money or money's worth are called economic activities."
In other words, economic activities are those efforts which are undertaken by man to earn Income, Money, Wealth for his life and to secure maximum satisfaction of wants with limited and scarce means.
E.g. A worker works in a factory and gets wages.
What are Non-Economic Activities ? Meaning ↓
"Human activities which are not performed for money or money's worth are called non-economic activities."
Here, there is no monetary consideration in exchange for such activities.
E.g. A person goes to temple, a boy helps his friend in studies, etc.
Types / Classification of Economic Activities ↓

1. Profession
Profession is an occupation carried on by professional people like Doctors, Lawyers, Engineers, etc. They provide specialised services in return for fees. To become a professional, a man requires specialized knowledge and professional qualification. For e.g. Doctor needs specialised knowledge in medicine, a lawyer needs a degree in law.
MARK AS BRAINLIEST
THANX
The primary aim of the economic activity is the production of goods and services with a view to make them available to consumer.

"Human activities which are performed in exchange for money or money's worth are called economic activities."
In other words, economic activities are those efforts which are undertaken by man to earn Income, Money, Wealth for his life and to secure maximum satisfaction of wants with limited and scarce means.
E.g. A worker works in a factory and gets wages.
What are Non-Economic Activities ? Meaning ↓
"Human activities which are not performed for money or money's worth are called non-economic activities."
Here, there is no monetary consideration in exchange for such activities.
E.g. A person goes to temple, a boy helps his friend in studies, etc.
Types / Classification of Economic Activities ↓

1. Profession
Profession is an occupation carried on by professional people like Doctors, Lawyers, Engineers, etc. They provide specialised services in return for fees. To become a professional, a man requires specialized knowledge and professional qualification. For e.g. Doctor needs specialised knowledge in medicine, a lawyer needs a degree in law.
MARK AS BRAINLIEST
THANX
Similar questions