Choose if the given statement is true/false.

Market activities involve paying those who participate, those who work for compensation or profit.

see full answer

Your Exam Success, Personally Taken Care Of

1:1 expert mentors customize learning to your strength and weaknesses – so you score higher in school , IIT JEE and NEET entrance exams.

An Intiative by Sri Chaitanya

True

False

answer is A.

(Unlock A.I Detailed Solution for FREE)

Best Courses for You

JEE

NEET

Foundation JEE

Foundation NEET

CBSE

Detailed Solution

The given statement is true.
Market activities involve paying those who participate, i.e., those who work for compensation or profit. A market is nothing more than a gathering place for distributors and potential customers to trade goods and services. Prices are set by both parties, with buyers determining demand and sellers determining supply. The payments provided to someone who performs an action to generate income are included in market activities. Profit is produced via market activity. An illustration would be a government service. The production for one's own consumption comes from non-metallic activities. These include manufacturing and providing government services, among other things. For instance, a man working at a bank or a teacher in training at a school Activities that are neither economically motivated or part of the exchange system are categorised as non-marketing activities.

Watch 3-min video & get full concept clarity