Question

.what is Self-consumption is called
(1 Point)
1.non-production activity
2.non-market activity
3.non-economic activity

Answer 1

Self consumption is called non market activity ...

Answer 2

The answer is '2. non-market activity.'

• Non-market activity refers to those activities in which commodities are produced for self-consumption purposes. They are not produced for sale in the market. Thus, 'self-consumption' is a non-market activity.

• Non-production activity refers to those in which no production is done. But in self-consumption, production is done for self-consuming. Thus it is not a 'non-production activity.'

• Non-economic activity refers to those activities which do not add to the economy of the nation. But for producing the self-consuming goods, the person needs to pay money for equipment and raw materials, which adds to the economy of the nation. Thus, it is not a 'non-economic activity.'

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