Choose the given statement is True/False

Economic activities are also called market activities.

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.
Economic activities are also called market activities.
Market activities generate income. A market is more than a gathering place for distributors and potential customers to trade goods and services. Both parties set prices, with buyers determining demand and sellers determining supply. Payments provided to individuals who take actions to generate income are included in market activity. These kinds of activities are also profitable. Government services are one example of market activity. Production in non-marketing activities is done for personal use. Non-marketing offers no advantages. Manufacturing raw materials for producing goods and self-service are two examples of non-market activity.

Watch 3-min video & get full concept clarity