In the chapter, the term market is best described as a platform or system where buyers and sellers interact to exchange goods, services, or resources. It can refer to physical locations, such as local markets or shops, or broader concepts, ...
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In the chapter, Sevā is described as an act of selfless service performed without expecting any form of monetary reward or recognition. It reflects the values of kindness, compassion, and duty towards others, often driven by a sense of responsibility ...
Collective community efforts like the Swachh Bharat Abhiyan contribute significantly to society by promoting cleanliness, hygiene, and environmental sustainability. By encouraging active participation from citizens, this initiative fosters a sense of responsibility toward maintaining public spaces, reducing litter, and improving ...
In Sahil’s case, a farm laborer typically receives payment in kind, which means compensation is provided through goods rather than cash. This could involve receiving a portion of the harvested crops, such as grains or vegetables, as payment for their ...
Non-economic activities are still valuable despite not involving money because they contribute significantly to social cohesion, community well-being, and individual fulfillment. These activities, such as volunteering, advocacy, or cultural engagement, foster relationships, enhance social networks, and promote a sense of ...
The salary of a person involved in an economic activity is determined by several factors, including the individual’s skills, experience, and educational qualifications, as well as the demand and supply dynamics in the job market. Employers often consider the complexity ...
An activity that can be considered both economic and non-economic is community gardening. This activity involves individuals growing food or flowers collectively, which can lead to the economic benefit of selling surplus produce at local markets, thus generating income for ...
The main difference between economic and non-economic activities lies in their objectives and outcomes. Economic activities are primarily focused on the production, distribution, and consumption of goods and services with the aim of generating income or profit. Examples include manufacturing, ...
An example of a non-economic activity is volunteering for a community service project. This activity involves individuals dedicating their time and effort to help others without receiving any financial compensation in return. Non-economic activities, such as volunteering, advocacy, or participating ...
The term “value addition” refers to the process of enhancing the worth or utility of a product or service through various means. This can involve transforming raw materials into finished goods, improving product quality, or adding features that increase consumer ...