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Q.

[[1]] activities have two parts, market activities and non-market activities.


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Detailed Solution

Economic activities have two parts, market activities and non-market activities. Any action that involves the production, distribution or consumption of products or services is classified as an economic activity. The economic activity of producing and consuming goods is referred to as market activity. These are done for a fee or profit, such as a man who works in a bank. Non-marketing activities encompass non-economic activities that are part of the exchange system. These are done for self-consumption—for example, subsistence farming.
 
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