Question

What is the meaning of an economic activity

Answer 1

Answer:

An economic activity is a process that, based on inputs, leads to the manufacture of a good or the provision of a service.

Answer 2

1. Economic Activities Activities which are under taken by people with the object of earning money are known as economic activities. e.g., production of goods in 8 factory, distribution of goods by a wholesaler or retailer.

2. Types of Economic Activities Economic activities can be divided into three categories

Business
Profession
Employment