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Q.

Any activity which is undertaken in order to earn money can be called :

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a

Economic activity

b

Non Economic activity

c

Both 1 and 2

d

None of these

answer is A.

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Detailed Solution

Any activity which is undertaken in order to earn money can be called economic activity.
Economic activity is one in which individuals engage in the provision, production, acquisition, or exchange of goods or services to meet their basic requirements. In simple words, we can say that the creation, supply, or use of goods or services is considered an economic activity. The three categories of economic activity are employment, professions, and businesses

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Any activity which is undertaken in order to earn money can be called :