Question

what is the nature of an economic activity? Explain​

Answer 1

Answer:

Economic activity is the process by which the stock of resources or stock of capital produces a flow

of output of goods and services that people utilize in partial satisfaction of their unlimited wants.

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Answer 2

Answer:

Please Make The Answer as Brainliest.

Explanation:

All discussions of basic economic concepts must begin with what we mean by the term "the economy". This term, which is loosely used in popular discussion, needs a proper definition before analysis can proceed. We can visualize the economy as a collection of resources together with the set of institutions that govern their use. The resources include human skills, land, buildings, machinery, houses, and so forth. Added together, they compose the economy's capital stock and, given appropriate institutions, produce the flow of commodities and services that the public enjoys. The institutions within which these resources are organized and managed are the business firms, corporations, government agencies, non-profit organizations, cooperatives, etc. that appear everywhere we look.