Fees play an important role in economic activities as they are payments made for services provided by professionals or organizations. For example, students pay school fees for education, and patients pay fees to doctors for treatment. This payment compensates the ...

Parents help with non-economic activities by performing tasks that benefit their family without expecting any payment. For example, they cook meals, clean the house, teach children, and take care of the elderly, all of which ensure the well-being and comfort ...

Activities in langars are considered seva because they are selfless acts of service performed to help others without expecting anything in return. Volunteers cook, serve food, and clean in community kitchens to ensure that everyone, regardless of their background, receives ...

The significance of Rajesh adding value to wood lies in transforming a raw material into a finished product, such as furniture, which is more useful and valuable. By doing so, he not only earns a livelihood but also contributes to ...

Activities like Swachh Bharat Abhiyan help build community by bringing people together to work for a common goal of cleanliness and better living conditions. These activities encourage teamwork, cooperation, and a sense of shared responsibility among citizens. People from different ...

Value addition is the process of increasing the worth of a product by enhancing it through various activities. For example, when raw cotton is turned into cloth, its value increases. This is important in economic activities as it creates more ...

A payment in kind means receiving goods or services instead of money as a reward for work. For example, if a farmer works on someone’s land and instead of being paid in cash, they are given a share of the ...

Monetary compensation refers to the payment made in the form of money for the work or services provided. It is the most common type of compensation given to employees, workers, or service providers. For example, when a teacher is paid ...

Monetary compensation refers to the payment made in the form of money for the work or services provided. It is the most common type of compensation given to employees, workers, or service providers. For example, when a teacher is paid ...

A technician’s work is classified as an economic activity because it involves providing specialized services in exchange for money. Technicians perform tasks like repairing machines, fixing electrical issues, or maintaining equipment, which are essential for various industries and households. Their ...