Economic activities refer to actions that involve the production, distribution, and consumption of goods and services with the primary aim of generating income or wealth. These activities encompass a wide range of tasks, including farming, manufacturing, retail, and service provision, where individuals or businesses engage in transactions that contribute to the economy. Economic activities can be classified into primary (extraction of natural resources), secondary (manufacturing), and tertiary (services) sectors. Ultimately, these activities play a vital role in sustaining livelihoods, driving economic growth, and meeting the needs and wants of society.
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Economic activities are actions that contribute to the economy by generating monetary value and facilitating the production, distribution, and consumption of goods and services. These activities include a wide range of sectors, such as agriculture, manufacturing, and services, all of which play a role in enhancing wealth and creating jobs. By engaging in economic activities, individuals and businesses participate in the market, driving growth and innovation. Ultimately, these activities are essential for improving living standards and fostering overall economic development within a society. Therefore option 2 is correct answer.
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Economic activities are those that involve money or are performed in exchange for money or money’s worth. Examples include selling goods, providing services for a fee, or engaging in any activity that generates income or wealth.
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Economic activities are actions that create monetary value, such as producing goods or providing
services. These activities generate income and are essential for earning livelihoods and supporting
economic growth.
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