Choose the given statement is True/False

Economic activities are those activities which give social and psychological satisfaction to a person.

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True

False

answer is B.

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Detailed Solution

The above statement is false.
Economic activities are those activities which are done to earn money. The economic activities are run in groups. The groups are called sectors. Economic activities are divided into three sectors. Each individual in the country who does economic activity to earn a livelihood is connected to one of the three sectors. The primary sector includes people engaged in agriculture, fishing, forestry, dairy, etc. The second sector is the secondary sector which includes manufacturing activities done by people in factories, industries etc. The last one is the tertiary sector which acts as a service provider. People working in this sector rendered their services to earn money. Some people do economic activities to earn two square meals, while some do economic activities for a better standard of living.
Thus the correct statement would be Economic activities are those activities which make money and help to earn.

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