GK
BUSINESS ECONOMICS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Friends playing Chess.
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Boy drawing a picture.
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A man polishing shoes
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Mother scolding her children for not doing study.
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Detailed explanation-1: -The four essential economic activities are resource management, the production of goods and services, the distribution of goods and services, and the consumption of goods and services.
Detailed explanation-2: -1. Agriculture, forestry and fishing are classified as primary activities. 2. Manufacturing, mining as secondary activities.
Detailed explanation-3: -One can broadly classify five distinct examples of economic activities. These activities are producing, supplying, buying, selling, and the consumption of goods and services.
Detailed explanation-4: -Economic activities are carried out by human beings to earn their income and to acquire wealth. For example, a trader, an agriculturist, a manufacturer, a doctor, a teacher, and laborers working in a factory are all examples of economic activities.