Question

What is the basic function of three basic types of economic activities?

Answer 1

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The basic function of every economy is to provide a living to the people for satisfaction of their wants. For this purpose, all economies perform some basic activities which are grouped under three heads, namely, production, consumption and investment, as explained below.

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Answer 2

Answer:

Hey, The basic function of every economy is to provide a living to the people for satisfaction of their wants. For this purpose, all economies perform some basic activities which are grouped under three heads, namely, production, consumption and investment, as explained below.

Explanation:

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